CIBN says economy recovering, advises Buhari


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Governor of Central Bank of Nigeria (CBN) Godwin Emefiele

Dr Uche Olowu, the Chairman, Chartered Institute of Bankers of Nigeria (CIBN), said the Nigerian economy was recovering and urged President Muhammadu Buhari to properly execute economic policies that would uplift the masses from poverty.

The News Agency of Nigeria (NAN) reported that Olowu gave the advice on the sideline of an evening of songs, organised by the institute on Monday in Lagos as the nation awaits signing into law of the 2020 Budget by President Buhari.

According to him, Nigerians expect a renewal of things to happen in 2020.

“The point is that, the economy is recovering and we are prepared to jump start the economy because the budget could be signed into law, by His grace, before the end of 2019 for us to start afresh.

“Also, we have to execute properly the economic policies in a way that it will uplift the masses from pains and suffering.

“We have seen that more credit is channeled to manufacturing and retail sector.

“Let us intervene more in food and agriculture and see to it that the food inflation comes down,’’ he said.

Also, the Chief Executive Officer (CEO) of Nigerian Economic Summit Group (NESG), Mr Laoye Jaiyeola, urged Nigerians to be optimistic that the New Year would be better.

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According to him, 2020 may be tough, but the people have all it takes to make it.

He said he had always told people in the country of the need to be optimistic.

“That we are alive and we have all the opportunities and all it takes to contribute individually to the growth of the nation is why we should be hopeful,’’ he said.

The CEO, therefore, urged Nigerians to always think of what to do to help better the country.

“This is the question I ask myself, that beyond what the government is doing or saying, what am I doing to ensure that I don’t leave this place worse.

“This is also the question I feel Nigerians should ask themselves.

“That is why, we in NESG have resolved and determined not only to engage and dialogue, but also to do whatever we can within our reach to support the government,’’ Jaiyeola said.

Buhari had on Oct. 8, presented a budget of N10.33 trillion tagged “Budget of Sustaining Growth and Job Creation” to the Joint Session of the National Assembly in Abuja.

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