The Governor of the Central Bank of Nigeria (CBN) and Emir of Kano, Muhammadu Sanusi II, has expressed his belief that it will take some time for Nigeria's economy, which he says has been mismanaged for the last 10 years, to recover.

He shared this perspective during the 024 Rivers State Economic and Investment Summit held at the Obi Wali International Conference Centre in Port Harcourt, the state capital, on Thursday, May 23.

Sanusi stated that realistically, it will take more than six months or even a year to undo the economic mismanagement of the past decade.

He praised the government of Rivers State for focusing on economic development through investment promotion, emphasizing that such reforms require difficult decisions and policies that may be painful and unpopular, especially with politicians. However, he stressed that these tough measures are necessary to ensure a better future for the people.

“The decision to centre governance around economic development through investment promotion is a very thoughtful and great decision by the government of Rivers State.

“This is more so because the reform of an economy whether state or the federation at large requires difficult decisions, it involves policies that will be painful and unpopular which usually don’t go down well with the politicians.

“But that is the only way to guarantee a better future for the people. At this point it is important for us as Nigerians to be realistic, the mismanagement of the last ten years will not be undone in six months or one year,” Sanusi said.

Sanusi II made this statement amid reports of his reinstatement as the 16th Emir of Kano.

In the meantime, a Federal High Court in Kano has issued an order preventing the Kano State Government from implementing the Kano State Emirate Council Repeal Law. This decision came in response to an application by Alhaji Aminu Babba Dan Agundi, the Sarkin Dawaki Babba of the Kano Emirate.

Court documents related to the case have been widely circulated.