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Sanusi Urges Fubara to Choose Economic Prosperity Over Oil Dependency

Former Central Bank of Nigeria (CBN) Governor, Muhammad Lamido Sanusi, has urged Rivers State Governor, Siminalayi Fubara, to choose between a legacy of 13% derivation or a viable economy that would launch the state to one of the best economies in Africa. Sanusi, who was recently reinstated as the Emir of Kano, made this statement at the Rivers State Economic Summit in Port Harcourt.

Sanusi emphasized the importance of developing a strategy to create sustainable wealth and keep every youth engaged economically. He advised Governor Fubara to think of a legacy but choose to transform the economy and give the state an economic standpoint to compete in Africa, rather than focusing on roads and bridges.

According to Sanusi, sitting on oil is not enough for a state or nation, as even if all the oil reserves are dug up, sold, and shared, it would still not make Nigeria a wealthy nation. He emphasized that roads and bridges would decay and require more spending, and that the key is to develop a strategy to create sustainable wealth and keep every youth engaged economically.

Sanusi also emphasized the need for robust education and skill training programs to prepare the youth for the future workforce. He advised Governor Fubara to reform primary and secondary schools, colleges, polytechnics, and universities to become real incubation centers that produce engineers, technicians, and artisans who can provide an efficient workforce for Rivers State.

In addition, Sanusi stressed the importance of investing in renewable energy, building more power generation, and ensuring sustainable and reliable energy sources to drive industrial growth. He also advised Governor Fubara to invest in strategic transportation systems, including metro airlines, water transportation, ports, and cargo airlines and airports, which would facilitate trade and mobility.

Governor Fubara congratulated Sanusi on his reinstatement as Emir of Kano and urged him to lead the over 50 million adherents of the Sufi order in Nigeria with love, wisdom, and courage. He also thanked Sanusi for his advice and assured him that his administration would work towards creating a viable economy for Rivers State.

Sanusi’s advice to Governor Fubara is a call to action for the Rivers State government to think beyond oil and focus on developing a sustainable economy that would benefit the youth and future generations. By investing in education, renewable energy, and strategic transportation systems, Rivers State can become one of the best economies in Africa.

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