Sanusi: Nigeria’s Economy Now Growing Faster Than Population
The Emir of Kano, Muhammadu Sanusi II, has said Nigeria’s economy is growing faster than its population for the first time, attributing the progress to recent reforms introduced by the Central Bank of Nigeria (CBN).
Sanusi made the remarks during the ongoing 31st Nigerian Economic Summit, where he praised the apex bank for restoring stability to the economy after years of monetary instability.
According to the former CBN Governor, the country had struggled with excessive money supply and loose monetary policies, but the Central Bank has taken decisive steps to address the situation.
“I have nothing but positive words for what the Central Bank has done. We came from a period of serious instability caused by loose money and uncontrolled growth in money supply. Within a year, the Central Bank has successfully mopped up that excess liquidity,” he said.
He added that Nigeria is now in a position where economic growth is outpacing population growth, describing it as a significant milestone.
“This is the first time that this economy will be growing faster than the population,” Sanusi stated.
His comments come shortly after the CBN retained the Monetary Policy Rate (MPR) at 26.5 per cent for the second consecutive meeting, as part of efforts to keep inflation under control.
Nigeria’s inflation rate stood at 15.91 per cent in June 2026, according to the latest figures.
