By James Butty
Washington, D.C.
24 September 2007

The governor of the Central Bank of Nigeria says Africa may need at least 40 to 50 billion dollars annually to finance its infrastructure development. Professor Chukwuma Soludo said no amount of foreign aid can help Africa overcome such a deficit. He said the answer to Africa’s infrastructure development challenge in the 21st century is the creation of an Africa Finance Corporation.

Soludo spoke in Washington over the weekend at the Fifth Nigeria Television Authority Lecture Series. He said Sub-Saharan Africa’s infrastructural development challenges are humongous.

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Posted by rjorr at September 24, 2007 12:50 AM