President Buhari: Nigeria knows the way forward
In this op-ed, Muhammadu Buhari, the President of Nigeria, responds to concerns about Africa's capacity grow economically, by presenting the project he is currently implementing in his country. He said it is time for African countries to lay the foundation for a development that transforms people’s lives and frees them from their dependence on raw materials. To this end, the Nigerian government has increased public investment in road infrastructure projects, energy and agriculture. Given the low price of oil, these expenditures are financed by debt, but, unlike the loans of the past, they are intended to create the conditions for the development of a productive economy. This is also the goal of private-sector investment reforms currently being carried out, which include the promotion of public-private partnerships and the intensification of anti-corruption efforts. At the social level, the country is continuing to make progress in the fight against Boko Haram and the government will launch an extensive social investment programme targeted at the poor and the young. The country faces a threatening recession, so its path towards inclusive growth is still long. However, Nigeria’s challenges are not the most important factor, but it is the fact that Nigeria now knows its weaknesses and knows the direction it should it take to make the country’s emergence a reality.
Read the article: https://www.bloomberg.com/view/articles/2016-09-21/making-africa-rising-a-reality-in-nigeria