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Sanusi Lectures London School of Economics, Decries Infrastructure Financing Deficit

By on January 26, 2012

Mallam Lamido Sanusi was the guest speaker at the London School of Economics at the annual Sir Patrick Gillam Lecture Series on Monday. The CBN governor delivered a lecture entitled, “The Global Crisis and the Nigerian Economy: The Central Bank of Nigeria Responses”.

According to a statement released on the CBN’s website, “Mallam Sanusi noted that the economy is still plagued by some daunting challenges despite the robust economic growth. According to him, these challenges have slowed down the transmission of such growth indices to higher employment opportunities. Mallam Sanusi further stated that “the link between major growth drivers, particularly agriculture and manufacturing, continue to be weak and the required costs of the expected infrastructural needs of the economy are daunting and remained a major challenge to financial sector”.

The Governor also noted that “the need for a low-cost long-term infrastructure financing requires more than the CBN alone can tackle”, stating that “major bottlenecks and supply-side constraints, including enabling legal framework have slowed the responsiveness of some CBN reform measures”.

Mallam Sanusi offered a ray of hope noting that “substantial progress has been made and significant public confidence has been restored to the banking sector with the reform measures adopted by the Bank”. He reiterated that “while the primary goal of a central bank should be price stability, in the context of developing economies, the central bank should also emphasize on its developmental roles in order to support positive economic transformation and rapid growth”.

The lecture series have treated a range of contemporary economic issues of global concern, with prominent academic specialists and policy makers speaking before audiences of LSE staff and students as well as interested members of the public, including journalists, bankers, businessmen, and representatives of various governments, multi lateral institutions, and non-governmental organisations.

2 Comments

  1. okwuu

    January 26, 2012 at 2:05 pm

    You are blessed for ever. Go on si ohu. If you ever want to be President, just let me know, I will arrange it.

  2. Anonymous

    January 30, 2012 at 3:15 pm

    DAYS ARE GONE FOR  ARRANGED PRESIDENCY IN NIGERIA .

    CHANGE YOUR MENTALITY NOW.