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LequteMan
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Nigeria - According to the Director for the African Department of the International Monetary Fund (IMF), Mrs Antoinette Sayeh, irregular power supply was a major cause of the setback plaguing the Nigerian economy, Leadership reports.
Speaking at the just-concluded Spring Meetings of the World Bank/IMF in Washington, she said electricity is a huge constraint to growth and to the ambitions that many sub-Saharan African countries face to diversify and have structural transformation realised in the immediate future.
“Some countries want it yesterday. It is not just low income countries in the region, but across the board as we see now also South Africa struggling with the electricity problems as well. Nigeria is also very challenged on that account,” she said.
To solve this problem, she said Nigeria and the other countries need to double their efforts to create their own fiscal space, make room in their budgets to finance more investments by doing better on the issue of resource mobilisation, revenue mobilisation, but also better prioritising their expenditures in their budgets and being able to, therefore, have more room to finance.
#Nigeria #IMF
Speaking at the just-concluded Spring Meetings of the World Bank/IMF in Washington, she said electricity is a huge constraint to growth and to the ambitions that many sub-Saharan African countries face to diversify and have structural transformation realised in the immediate future.
“Some countries want it yesterday. It is not just low income countries in the region, but across the board as we see now also South Africa struggling with the electricity problems as well. Nigeria is also very challenged on that account,” she said.
To solve this problem, she said Nigeria and the other countries need to double their efforts to create their own fiscal space, make room in their budgets to finance more investments by doing better on the issue of resource mobilisation, revenue mobilisation, but also better prioritising their expenditures in their budgets and being able to, therefore, have more room to finance.
#Nigeria #IMF
