The Digest:
Former Central Bank Governor Muhammadu Sanusi II has revealed that the Goodluck Jonathan administration abandoned its 2012 fuel subsidy removal plan primarily due to fears that Boko Haram would exploit widespread public protests. Speaking at an Oxford conference, Sanusi stated that while removing the subsidy would have caused "minimal pain" then, the government feared suicide bombers could infiltrate protest crowds and trigger a national crisis.
Key Points:
- Sanusi reveals Boko Haram threats influenced Jonathan's 2012 subsidy decision.
- The government feared terrorists would exploit protests, turning them deadly.
- Sanusi described the subsidy as a "naked hedge" that bankrupted the nation.
- He argued that delaying removal worsened Nigeria's current economic crisis.
- As CBN governor, he had guaranteed inflation would only rise marginally.
- Sanusi criticized Nigerian leaders for prioritizing personal gain over public service.
- He described Nigeria as a "classless society" where educated leaders "live like illiterates."
Sources: ARISE TV
