In a noteworthy address at The Bank Directors Summit held at the Transcorp Hilton in Abuja, former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, emphatically asserted that President Bola Tinubu should not simultaneously serve as the Minister of Petroleum. Sanusi, speaking on Thursday, highlighted the necessity of having a separate individual accountable for the petroleum sector to ensure transparency and accountability.
During his speech, Sanusi emphasized the importance of avoiding a situation where individuals are hesitant to voice concerns about the petroleum sector due to the President’s dual role. He expressed concerns about the lack of accountability when the President holds the position of Minister of Petroleum, citing the difficulty of addressing issues within the sector during the previous administration.
The former Emir of Kano also called for an audit of the Nigerian National Petroleum Company Limited (NNPCL) and revealed that advocating for such an audit had been a factor leading to his departure from the position of CBN Governor.
Sanusi recalled, “Let me advise that the idea of the president being petroleum minister. The last president was minister of petroleum for eight years. When I was governor of CBN, we had a petroleum minister. So when we talk about NNPC, I could attack Diezani, now nobody can talk about petroleum because in 8 years if you talk, you are attacking the president.”
President Tinubu, following the footsteps of his predecessor Muhammadu Buhari, currently holds the substantive Minister of Petroleum Resources position. Despite appointing ministers of state to oversee specific areas within the petroleum sector, Sanusi asserted that the President should not retain the key portfolio, emphasizing the importance of separating political leadership from critical economic sectors.
