Sanusi said this at a forum organised by the Savannah Centre for Diplomacy, Democracy and Development (SCDDD), in Abuja.
The monarch said this at a forum organised by the Savannah Centre for Diplomacy, Democracy and Development (SCDDD), in Abuja.
Sanusi also warned that crude oil will never make Nigeria rich, adding that it will also not bring the country out of its current economic woes.
The Emir said ”I can tell you for free, if the Senate today approves that we can borrow $30 billion, honestly, no one will lend us. It should be approved and I will like to see how you will go to the international market with an economy that has five exchange rates.
“There is one rate for petroleum marketers, there is inter-bank rate, there is another for money market operators such as western union, money gram, there is bureau de change rate and there is a special rate you get when you call the CBN for a transaction.
“So, who will borrow you when they don’t know your exact reserve and exchange rate. I want to see who will borrow you money when the Niger Delta bombing of oil is there when the main source of the loan repayment is oil.”
You will recall that the Senate on Tuesday, November 1, 2016, rejected President Muhammadu Buhari’s request for approval to borrow $30 billion.