Nigeria not yet broke, says CBN Governor

By Onyedi Ojiabor

entral Bank of Nigeria (CBN) Governor Mallam Sanusi Lamido Sanusi yesterday declared that Nigeria is not broke.
Sanusi spoke at the 10th edition of The Initiative National Roundtable for Good Governance with the theme: “Deregulation in an Emerging Economy” in Abuja.
The CBN governor, who was represented by his Director of Research, Mr. Charles Mordi, said: “Nigeria is not yet broke and we don’t want to be broke. That is why we say that we should not waste our resources. We should manage our resources well.”
On deregulation, he said Nigerians have seen what deregulation could achieve with the deregulation of the telecommunications sector.
He said the country must be bold enough to take the right decision, insisting that “unless the right decision is taken it will get to a point when the government can no longer provide the basic needs of the country.”
The fact of the matter, he said, is that in many parts of the country Premium Motor Spirit (PMS) is sold far above the stipulated pump price.
“The question Nigerians should ask is who takes the balance?” he said.

via The Nation