The Emir of Kano, Muhammadu Sanusi II, has praised President Bola Tinubu’s administration for progress in Nigeria’s economy, pointing to economic growth, falling inflation, rising foreign reserves and more diverse exports.

Speaking on Tuesday at the Oxford Global Think Tank conference, convened by Arunma Oteh, Sanusi said the country was beginning to lay the foundations for economic stability, though significant challenges remained.

“I’m not a fan of politicians, but we need to give credit to President Tinubu’s administration for bringing us back from the brink,” he said.

The former Central Bank of Nigeria governor noted that the economy grew by 4.48 per cent in the second quarter of 2026, up from an average of 0.9 per cent during former President Muhammadu Buhari’s administration.

“Today it’s at 4.5 per cent. That’s progress,” he said.

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Sanusi also said inflation had fallen from about 30 per cent to 14.6 per cent and was expected to reach 12.5 per cent by year-end. He added that Nigeria’s GDP per capita, measured in dollars, had risen by 47 per cent since 2023.

“If we continue at this rate, by the end of next year, GDP per capita will be back to where it was in 2005,” he said.

He also disclosed that the country’s foreign reserves stood at $55 billion, while cautioning that much of the inflow was driven by volatile foreign portfolio investments.

On export diversification, Sanusi said the Dangote Refinery accounted for 20 per cent of Nigeria’s exports, describing this as evidence of progress.

“There are clearly foundations being laid for stability. It’s not the end, but the first step towards stability,” he said.

However, he criticised the government’s communication strategy, arguing that it treats suggestions and contributions it dislikes as attacks and lacks effective spokespersons.

“This government doesn’t express itself properly. It sees every suggestion and contribution it does not like as an attack, and it doesn’t have good spokespersons,” he added.