Africa’s refusal to decentralise power preventing continent’s progress: Nobel Laureate

Nobel Memorial Prize laureate Roger Myerson, an economist, has urged African governments to decentralise power and make resources available to local councils in order to spur development.

Mr Myerson, who spoke at the on-going African Economic Conference, said the devolution of power to the local councils could also help curb corruption and create competition.

A winner of the 2007 Nobel Memorial Prize in Economic Sciences, Mr Myerson spoke on the role of institutional and political frameworks in Africa’s capacity to finance its development.

He was joined by Ahunna…