Kano's Emir Lamido Sanusi has expressed optimism about Nigeria's economic situation, stating that the nation has narrowly avoided a total collapse.

Sanusi shared these insights during an interview with News Central on Wednesday.

“We’re coming from a background of very high levels of instability as a result of loose money and the Central Bank of Nigeria, CBN has taken the last one year to mop up all that money.

“We’ve pulled back from the brink of economic collapse and stabilized the exchange rate. Inflation is coming down. It’s still very high at 20% but it is coming down from the high levels of a few years ago.

“We have built up a reserve of over $40b. The economy has grown in the first quarter by more than 3% and in the second quarter by more than 4%. And this is the first time in a long time that this economy has been going faster than the population,” the former CBN governor said.

ASA