The 14th Emir of Kano, Muhammadu Sanusi, has said the All Progressives Congress (APC) administration has set Nigeria 40 years backwards economically.
Sanusi, a former governor of the Central Bank of Nigeria (CBN) stated this on Monday in an interview with Rufai Oseni of Arise TV.
He explained that the economic gains the country made were wiped out between 2014 and 2019 by the ruling party.
Sanusi emphasised that going by Nigeria’s Gross Domestic Product (GDP) per capita on a Purchasing Power Parity (PPP) basis between 1980 and 2023, the country has been set backward by 40 years.
His words: “Let me give you an idea, when we look at the numbers, we see how bad things are. If you look at the World Bank development indicators, in 1980, on a PPP basis, our per capita GDP was, I believe, $2,180. In 2014, it had risen to $3,099, a 50 percent rise. In 2019, our GDP per capita, on a PPP basis was down to $2,229.
“At this rate, by 2023, on a per capita basis, we would be back to where we were in 1980. We have been set back 40 years. Look at the fall between 2014 and 2019, all the gains made in 35 years between 1980 and 2014 were wiped out.”