Financial expert seeks FG’s concentration on critical infrastructure development

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Lagos –  Mr Johnson Chukwu, Chief Executive Officer, Cowery Asset Management   Thursday urged the Federal Government to focus on the development of critical infrastructure that would leverage the nation among the 20 fastest growing economy.

Chukwu said in interview with the News Agency of Nigeria (NAN) in Lagos, that in spite of the dwindling price of crude oil, growing the real sector remained the “game changer”.

According to him, the nation’s gross domestic products (GDP) pegging at about 500 billion dollars makes imperative for the nation to initiate the necessary key infrastructure that would drive economic growth.

“There is need for the construction of modern railways and dual carriage ways in major and industrial states of the country.

“Allowing the private sector to build manage and operate public utilities will give additional boost and encourage foreign investors into the country,” he said.

According to Chukwu, Nigeria has the capacity to witness unprecedented economic growth following the size of the country and the demography of the West Africa region.

“Nigeria alone is naturally a large market of 170 million people regardless of the sub-region, which has the ability to propel significant growth and turn the fortunes around.

“As we have continued to see other with large population realise economic progress with appropriate policy and political will Nigeria cannot be different giving our potentials,” he said.

NAN recalls that a global economic survey projected that Nigeria, China, the Philippines, Kenya, and Indonesia will rank among the 20 fastest growing economies in 2015. (NAN)