[UPDATE] Sanusi to states: Free yourselves from unorthodox policies at federal level

The former Emir of Kano, Muhammadu Sanusi ll, has challenged state governments to find ways to free themselves from the effects of leakages and unorthodox policies at the federal level.

Speaking in Kaduna yesterday at the 7th edition of the Kaduna Economic and Investment Summit (KadInvest 7.0) which commenced on Thursday, Sanusi said that instead of pushing for a revised revenue sharing formula (bigger piece of a shrinking pie) states should push for new and independent power of taxation.

“More generally, States need to find ways to free themselves from the effects of leakages and unorthodox policies at the Federal level”, the former Central Bank of Nigeria, CBN, governor opined.

Sanusi commended the administration of Governor Nasir el-Rufai for meeting the World Banks State Fiscal Transparency, Accountability and Sustainability scoring criteria for two years in a row, as well as the “successful implementation of the Treasury Single Account, TSA”.

Earlier in his remarks, Governor el-Rufai said the state government has attracted a total investment portfolio of $4,488,000,000 comprising actualized and announced investments and has created 75,750 direct and indirect jobs in the last seven years.

He said his government has also been providing a conducive environment for the private sector to drive the economy, by embarking on numerous policy actions and reforms, including the hosting of the yearly Kaduna Economic and Investment Summit(KadInvest) since 2016.

While giving a recap of what his administration has achieved since inception, the governor gave reasons why investors should invest in the state.

According to the former Minister of Federal Capital Territory, FCT, some of the reasons include an abundance of natural resources, a productive workforce, and steady economic growth, among others.