The Emir of Kano, Alhaji Muhammad Sanusi, has attributed the current economic recession in the country to inability of the past administrations to diversify the economy.
He spoke on Tuesday while delivering a paper at the ongoing 15th meeting of the Joint Planning Board and National Council on Development Planning in Kano.
In his paper titled “Nigeria in search of new growth model”, Sanusi said the administration of President Muhammadu Buhari will fail if it continues to thread the path followed by the administration of former President Goodluck Jonathan.
He said there was the urgent need for the country to return to the drawing board and expand the economy through wise investment for the economic growth and development of the country.
“If we do not expand the economy through wise investment, we can end up in classical Malthusian situation.
“If this government continues to behave the way the past government behaved, we will end up where Jonathan ended.”
Sanusi said in a situation where one sits down with a telephone call to make N1 billion without investing a single Kobo, that system is wrong and unsustainable.
He lamented that in spite of the past experiences we had on our socio-economic challenges, the country was still making the same mistakes as it cannot process tomato paste.
“In a situation where we cannot process tomato, tomato paste is being imported from China, it is sad”, he said.