CBN Governor: Godwin Emefiele release five years plan to reduce inflation for Nigeria
Di Govnor of di Central Bank of Nigeria (CBN), Godwin Emefiele don share im plans on how im go reduce inflation for Nigeria within im next five years for office.
Nigeria inflation rate dey 11.4 percent as at May 2019 and Emefiele plan na to reduce di inflation rate to less than 10 percent in di next five years. Emefiele tok dis one for di CBN headquarters for Abuja on Monday as im dey give im Monetary policy for di new term. Inflation na di steady increase ontop di general price level of goods and services inside di economy of Nigeria for some time now. Some of di tins wey Gov. Emefiele wan do to reduce inflation na: 1. Focus on monetary policy measure wey go target how to contain di tins wey dey put pressure on di kontri inflation wey dey at 11.4 percent as at May 2019. 2. Bring different means of survival for di economy through agriculture and manufacturing. Oga Emefiele note say na over relying on crude oil na im make Nigeria enta recession during the 2nd Quarter of 2016. 3. Sustain positive interest rate and improve access to loans for bank stakeholders wey dey important. Emefiele plan na to reduce di inflation rate to less than 10 percent in di next five years. "Di new minimum wage of N30,000, current electricity tariffs and borrow-borrow to pay fuel subsidy go continue to dey put pressure on inflation if dem no do sometin about am now." According to one Nigeria Economist. BBC Pidgin yan wit Bayo Rotimi wey say di CBN Govnor plan na ogbonge one as single digit inflation go helep increase economic activities. But Rotimi warn say some tins wey di kontri dey face fit dabaru di good plans wey Emefiele get. Rotimi advise di CBN Govnor make im suggest policies wey goment fit do ontop di mata of new minimum wage, light moni and fuel subsidy so dat Nigeria inflation rate go really reach single digit.