The governor of the Central Bank of Nigeria (CBN) Malam Sanusi Lamido Sanusi says the country’s infrastructure deficit is the result of the absence of long-term low-interest financing.

According to Sanusi, countries worldwide usually provide this kind of facility. He sees it as a major gap in Nigeria’s financial system.

Sanusi believes that infrastructure development is the surest way to diversify the income base of the country. The CDN governor says that the Federal Government must ensure that funds in the capital market and the pension funds are used to fund infrastructure development in the country.

The money invested in infrastructure would be recovered from the industry and income taxes after construction in complete.

Sanusi plans to set up a “policy think-tank” for Africa to help facilitate the continent’s development.