Mallam Sanusi Lamido Sanusi, governor of the Central Bank of Nigeria,CBN,has faulted the recent revocation of the concessioning contract of Lagos-Ibadan expressway awarded to Bi-Courtney Nigeria Ltd by the Federal Government of Nigeria.
Speaking at a forum with the theme”The Pivotal Role of the Capital Market in the Transformation Agenda for the Nigerian Economy”,the CBN boss reasoned that rather than cancel the contract, it should be allowed to stay.
According to him,the government don’t have to spend funds on the establishment of ports,roads,and other infrastructures that can be concessioned.The government should concentrate on the provision of good education,health care,defence,employment and housing for its citizenry.
He argued that if ICRC says a road is concessioned ,and the work minister says he was not consulted,who takes the blame?
The CBN governor also wondered why Nigeria should have many senators and other legislators,many states and local government councils.This explains why the recurrent expenditures of various governments have been on the high.Sanusi lamented that over 70per cent of the nation’s revenue goes to the payment of salaries and allowances to public servants with politicians getting a larger part he noted.
“How do you develop the economy when payment of salaries and allowances have already consumed the resources leaving nothing to work with,and why should tax payers funds be used to pay workers salaries” he asked.
By Clement Oriloye