Saturday, September 24

Nigeria will come out of recession before December – CBN Governor assures Nigerians

Nigeria will come out of recession before December – CBN Governor assures Nigerians

Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has expressed optimisms that Nigeria will come out of the current economy recession the fourth quarter of this year.

His said this could be only possible when the result of the various measures put in place by the Federal Government and the monetary authorities become manifest.

According to him, one of such result is the decision of the CBN to establish a bridge fund for the government to utilise to stimulate the economy whenever there is a need for it.

The apex bank boss had earlier warned Nigerians to stop blaming the current economic mess on President Muhammadu Buari.

Emefiele, who spoke to media executives in Lagos on Saturday, said, “We are already in the valley, the only direction is to go up the hill and the government is doing everything possible to ensure that we move up the hill. I am optimistic that based on the actions being taken by the monetary and fiscal authorities, the fourth quarter results will show evidence that we have started to move out of the recession.

“The worst is over. The Nigerian economy is on the path of recovery and growth. So, please if you are a bystander or sideliner, you are losing; join the train now before it leaves the station.”

Continuing, the CBN boss said “Both the monetary and fiscal authorities are working together and that is why you can see a situation where today, even when we have revenue shortage or deficit, the monetary authority is trying to bridge the gap.

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