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From Uche Usim, Abuja
The Ministry of Finance and the Central Bank of Nigeria (CBN) yesterday harped on the need to implement sound economic policies that would grow the economy of Nigeria and other countries in Sub-Saharan Africa.
Their positions were articulated at the launch of the Regional Economic Outlook for Sub-Sharan Africa held in Abuja.
Finance minister, Mrs. Kemi Adeosun, said there was need for most African nations to think outside the box by evolving innovative ways of increasing revenue without dependence on oil because of its volatility.
According to her: “Nigeria as a strong economy in Africa has begun moves to improve private sector involvement in running the economy, while the government provides the enabling environment.
“It is obvious the government alone cannot fund projects and programmes needed to move the country forward. So, we are involving the private via PPP. We are committed to improving private sector participation.”
She said the challenge of Nigeria was not the borrowing but the need to increase revenue generation.
