Muhammadu Sanusi 11 (CON), the 14th Emir of Kano has advocated the removal of petroleum subsidy seen as a major obstacle in the country’s effort to providing basic infrastructures for the Nigerian populace.
Over the years, the Federal Government has spent billions of naira on fuel subsidy.
Sanusi 11 who is also the Chairman Qua Iboe Power Project, QIPP, made the call Thursday when he paid a courtesy visit on Governor Udom Emmanuel at the Executive Council Chamber, Government House, Uyo.
“We don’t have money to invest in power. We don’t have money to invest in infrastructure, but we have money to subsidise petroleum products. We have to get rid of subsidy,” the one-time governor of Central Bank of Nigeria observed.
The Emir further noted that “For a country like Nigeria with estimated population of about 190 million and estimated large youth population now is the time to start building an economy that would cater for the employment needs of the youthful population.
“If we don’t get it right now, what we will have in the future will be a child’s play compared to what is happening now,” the Emir posited.
He, however, announced plans by his company, QIPP, to invest $1.1billion in the exploitation of gas in Akwa Ibom State.
Part of the investment, Sanusi said, would be the development of a Gas power plant acquired from ExxonMobil that on completion would add 540 megawatts of electricity to the national grid.
According to him, “Akwa Ibom was chosen for the investments because it has gotten all that they needed- the Gas, the peace and the human capital.”
The Emir described Akwa Ibom as a peaceful state and a safe haven for investors in the country.
Alhaji Sanusi said he has followed with keen interest “the tremendous transformation, not just in the infrastructural development but also in terms of peace and security,” and lauded the Governor for the giant strides his administration has recorded so far in the state.
Governor Emmanuel thanked the Emir for the visit to the state and more importantly for “stepping out of your emirate to go out there and source for investments. We want to tell the whole world that Akwa Ibom is ready for investments.”
He commended the traditional ruler for his courage in always speaking his mind on national issues and for doing so in a non-partisan manner.
Emmanuel, who rolled such key projects as the Ibom Deep Seaport and the planned International Logistics Centre to be sited in Ikot Abasi, agreed with the Emir on the need to build a virile economy, noting that democracy can only thrive where there is a fledging economy.
While emphasising the importance of building a sound economy for Nigeria, the Governor sought convocation of a national economic chat where like-minds would come together to help chart an economic course for the country.
Looking ahead of the coming 2019 elections, Emmanuel urged politicians to be cautious with their utterances, noting; “Election is an integral part of democracy.”
He pledged to look for more areas of collaboration even as he commended the Emir for his unyielding interest in the economic and political development of the country.