Yesterday, The Governor of Central Bank of Nigeria, CBN, Mr. Godwin Emefiele,painted a gloomy picture of the economy during a closed-door meeting with senators. The CBN governor told the senators that it was frightening that the nation was experiencing economic stagnation and inflation at the same time, explaining that ordinarily, both were not supposed to happen simultaneously.
A source said he expressed concern that the economy was gloomy, stagnant and worsening as a result. According to the source, Emefiele, who noted that the economy was biting on all, with almost all activities crippled, said indices that would have made the economy grow were not in place at the moment.
He was also said to have made reference to the renewed bombing of pipelines by Niger Delta Avengers as one of the factors pulling down the economy. The CBN governor was said to have Iinked these occurrences, especially with respect to the over 70 per cent decline in oil prices from about S116 per barrel in June 2014 to about $30 per barrel earlier in the year.
Source link
from Afrikagist4u http://ift.tt/29MclFH
via IFTTT
No comments:
Post a Comment