The Governor of the CBN, Mr. Sanusi Lamido Sanusi, has stated that the solution to Nigeria’s development challenges is the fixing of the various broken value chains in the country’s economic activities.
He made this assertion today during when he delivered a lecture at the Centre for Strategic and International Studies (CSIS), Rhode Island Avenue, Washington, D.C. USA. The event was organised by the CSIS to take advantage of the conclave of the financial community for the Annual Meetings of the Bretton Woods Institutions – The World Bank and the International Monetary Fund.
He declared that the value chains in agriculture, petroleum and power, are the most basic and critical, which will transform the economy.
He noted that the challenge for Nigeria does not necessarily lie in competing with the big multinationals for cutting edge technology, but in doing the basic things that will promote job creation, economic growth and stability.
The event was moderated by Mr. Dan Runde, Director of Project on Prosperity and Development and William A. Schreyer at the CSIS