To ensure long-term growth and prosperity, Nigeria must use its resources wisely, invest in advanced technology and rebuild the infrastructure without which the economy will not gain from the “power of productivity”. A nation enjoys higher standards of living if the workers can produce large quantities of goods and services for local consumption and extra for export.
Later this morning, my colleagues from the Federal Reserve will be talking with you about how to manage your credit. Because credit has become such an integral part of our economy, and because there are so many sources and forms of credit available, much more financial sophistication is required today than when I attended high school.