Sanusi Lamido Sanusi, former governor of the Central Bank of Nigeria, has urged President Bola Tinubu to step down as the petroleum minister and appoint a replacement.
This recommendation was made during the opening of the 2023 Bank Directors’ Summit in Abuja, organized by the Bank Directors Association of Nigeria (BDAN), with the theme “Emerging Issues: Navigating the Complex Balance Between Regulation and Compliance.
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President Tinubu has been following the precedent set by his predecessor, Muhammadu Buhari, by personally overseeing the petroleum ministry since taking office in May 2024.
Sanusi, the 14th Emir of Kano, expressed concerns about this approach, emphasizing that having a dedicated petroleum minister would better regulate the Nigeria National Petroleum Company Limited (NNPCL).
Sanusi Lamido articulated his perspective, stating, “The idea of the president becoming a petroleum minister is not a good one.
He pointed out that during his tenure as the Central Bank governor, having a separate petroleum minister provided a check on entities like the NNPCL.
Sanusi lamented the lack of accountability in the current structure, asserting, “Now, nobody can talk about petroleum because for eight years, if you talk, you have been attacking the president.
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We need that buffer; somebody has to be there. So, a minister who is held accountable by Nigerians has to be there.
The call for a change in leadership aims to introduce transparency and accountability to the management of Nigeria’s petroleum sector, emphasizing the importance of a ministerial figure to act as a buffer and facilitate open discussions about critical issues within the industry.
