Why Nigeria is Still Poor, by CBN Gov
Yemi Akinsuyi The Governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has attributed the continuous poverty in the country to bad governance and its attendant misplaced priorities, corruption and huge debt burden. Sanusi, who stated this yesterday during a conference on effective strategies for reducing poverty and scaling up implementation of the Millennium Development Goals (MDGs) in Nigeria, organised by the Centre for Democracy and Development (CDD), also gave non-competitiveness of Nigerian goods in the international markets, few economic opportunities, conflict and violence, huge debt burden, low productivity, high rate of population growth, and suboptimal human capital as part of the poverty problem in the country. The CBN governor, who was represented by Dr. Olaitan Mudashiru, lamented that Nigeria had no business being poor with the immense wealth in the country. He said: “Nigeria which was one of the 50 richest countries glo...