The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the road ahead of the country’s economy is still rough, urging Nigerians to pray for the Muhammadu Buhari administration.
Emefiele said this in Abuja on Wednesday when he was screened by the Senate following his nomination for a second term by the President. Responding to some comments by members of the Senate panel, the CBN boss said there were Nigerians bent on sabotaging the economy by creating loopholes in government policies. Emefiele also raised concerns over the country’s rising population without commensurate economic prosperity.
Reacting, the President, Manufacturers’ Association of Nigeria, Mansur Ahmed, urged the FG to take tough decisions to ensure economic stability in the country. Ahmed said the matter of petroleum subsidy, power and security need to be addressed.
The Lagos State Chamber of Commerce and Industry said the current economic situation should not get worse than this. The LCCI’s Director-General, Muda Yusuf, urged the FG to do whatever needed to be done to ensure that things did not get worse in the country.
He said if there is any need for the CBN governor to review the monetary policy, he should do so. Yusuf said many businesses have not been doing well because the purchasing power is weak, adding that the high rate of unemployment and insecurity have also affected the economy.