The Emir of Kano, Muhammadu Sanusi II, has said the economy of Nigeria is growing faster than its population for the first time in the face of reforms by the Central Bank of Nigeria, CBN.
Emir Sanusi disclosed this in a video while speaking at the ongoing 31st Nigerian Economic Summit.
He stated that recently, the CBN has stabilitzed the economy after years of excessive money supply and macroeconomic instability.
He commended the efforts of the apex bank to tighten monetary conditions, noting that the bank had successfully addressed the liquidity overhang inherited from previous policies.
“I have nothing but positive words for what the Central Bank has done. We are coming from the background of a very high level of instability as a result of loose money and uncontrolled growth in money supply. The Central Bank has taken one year to mop up all that money,” he said.
“This is the first time that this economy will be growing faster than the population,” added the former CBN Governor.
The remarks of Emir Sanusi come as the CBN, for the second consecutive time, retained the Monetary Policy Rate, MPR at 26.50 percent in a bid to curb the country’s inflation, which stood at 15.91 percent in June 2026.
