Sanusi To Tinubu: The President Shouldn't Be The Petroleum Minister

Image of Former CBN Governor Lamido Sanusi

Former CBN Governor Lamido Sanusi

Former Governor of the Central Bank of Nigeria (CBN), Lamido Sanusi, has called on President Bola Tinubu to relinquish his role as Minister of Petroleum Resources. Sanusi made this statement during his speech at The Bank Directors Summit held in Abuja on December 7th, 2023.

Sanusi argued that the President has too many responsibilities and should not be burdened with the additional task of managing the petroleum sector. He stated that having the President in charge of the ministry creates a lack of accountability and transparency, which can lead to corruption and mismanagement.

Sanusi also expressed concerns about the lack of transparency surrounding the Nigerian National Petroleum Company Limited (NNPC). He called for a proper audit of the company, saying that this would help to expose any wrongdoing and ensure that the NNPC operates in a more accountable manner.

Sanusi urged President Tinubu to appoint a separate Minister of Petroleum Resources who would be solely responsible for managing the sector. He believes that this would improve efficiency and accountability within the ministry.

Sanusi's views are echoed by several other stakeholders in the Nigerian economy. Former President Olu Falae and a number of economists have expressed similar concerns about the President holding the dual role of President and Minister of Petroleum.

President Tinubu has not yet responded to Sanusi's comments. He has previously defended his decision to hold the dual role, stating that it allows him to have greater oversight of the petroleum sector and ensure that it operates in the best interests of Nigeria.

Sanusi's comments are likely to reignite the debate about the President's role in the petroleum sector. They may also put pressure on President Tinubu to reconsider his position and appoint a separate Minister of Petroleum.

It remains to be seen whether President Tinubu will respond to Sanusi's comments or take any action to address the concerns about the petroleum sector. We will continue to monitor this story and provide updates as they become available.

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