The Emir of Kano, Muhammad Sanusi II, has praised President Bola Tinubu's economic reforms, particularly the Central Bank of Nigeria's efforts to stabilise the economy.
Speaking on the economic situation, the former CBN governor said he had "nothing but positive words for what the Central Bank has done."
He noted that Nigeria had pulled back from the brink of collapse after addressing excessive money supply and exchange rate instability.
"Interest rates are high, yes, but we have stabilised the exchange rate. We have pulled back from the brink of total economic collapse," he said.
On inflation, Sanusi acknowledged it remained high but said it was declining from the peak levels of recent years.
He also highlighted the country's growing foreign reserves, which he said had surpassed $40 billion, and pointed to economic growth of over 3% in the first quarter and over 4% in the second quarter.
"The economy has grown, first quarter by more than 3%, second quarter by more than 4%, and this is the first time in a long time that this economy has been growing faster than the population," Sanusi said.
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