Nigeria Minister of Finance, Mrs Kemi Adeosun while speaking at the annual session of International Monetary Fund (IMF) /World Bank in Washington DC, on Wednesday, says that Nigeria don’t need iPhones and pricey suits that will drive consumptions, but infrastructure project that will trigger growth of the nation.
According to This Day, who reported the remark made by Kemi Adeosun, after the IMF announced 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.
“It seems very simple, in terms of what needs to be done. We are quite excited about negative interest rates. We like that you’re not earning any money.
We are happy to take your money and give you very small positive interest rate. We think that the time has come, everyone is thinking out of the West, but there is nothing left in the West, everybody has to now come to Africa.
But we don’t want investors to come to Africa to sell us iPhones and many expensive suits. We want to become productive, so we want this investment to come into infrastructure that will enable us to compete and really enable Africans to stay in Africa,” Adeosun was quoted as saying.
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