The Minister of Finance, Mrs. Kemi Adeosun, has informed multilateral donor institutions and investors that Nigeria is hungry for infrastructure that can trigger growth, not iPhones and pricey suits that will drive consumption.
Adeosun spoke Wednesday night at a session during the International Monetary Fund (IMF)/World Bank annual meetings in Washington D.C., saying investors must start to realise that western economies are matured and offer lower returns, while Africa with its infrastructure gap offers greater returns.
The minister made the remarks on the heels of the announcement by the IMF that it would offer zero interest rate on its concessional lending facility from 2016 to 2018 to Nigeria and other low-income economies that are in dire need of financial support to boost their economies and overcome challenges as a result of low commodity prices. Read more
