Nigeria 'needs to improve infrastructure'
30 November 2010
Nigeria has to improve infrastructure if it is to foster long-lasting growth in the country, one expert has claimed.
Gordon Brown, the former prime minister of the UK, observed the country will need to enhance roads, power and transport in order to fully benefit from accelerated productivity, This Day reports.
He has called for a $100 billion (£64 billion) fund to be set up to ensure the infrastructure deficit is tackled.
The news provider reported: "He suggested that the infrastructural fund should be sourced via bonds in a public-private partnership to be guaranteed by the government and international financial institutions."
Mallam Sanusi Lamido Sanusi, the governor of the Central Bank of Nigeria, has said he expects double-digit growth by 2014, but Mr Brown suggested this could not occur without the required improvements in infrastructure.
The Africa Public Private Partnership Conference gets underway tomorrow (December 1st) and it is expected to look into the issue of developing more projects in the continent.