Emefiele says tough economic times still ahead

Emefiele says tough economic times still ahead

- Nigeria will still face tough economic times, says CBN governor Godwin Emefiele

- The CBN governor also decried the high level of disregard and disrespect of policies and laws of the country

- Going further, Emefiele expressed worry over the country’s rapid population growth

Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has told Nigerians that the road to the country’s full economic recovery is still tough and rough.

Emefiele disclosed this when he appeared before the Senate Committee on Banking, Insurance and other Financial Institutions for screening for reappointment as CBN governor for another five year term.

The CBN governor also decried the high level of disregard and disrespect of policies and laws of the country.

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Going further, the CBN governor also expressed worry over the country’s rapid population growth rate warning that steps must be taken to put in place policies.

“We just came back from the IMF/World Bank programme in April. And in the World Bank’s/IMF’s World Economic Outlook, Nigeria is positioned as a country whose population will grow and rise to over 425 million people by the year 2050.

“That will present Nigeria as a country with the third largest population in the world after China and India and indeed surpassing the United States of America in population.

“I worry and I do think that we all should worry that a lot of work needs to be done to make sure that we are able to put in place policies that will make life good for this 425 million people when we are the third largest population in the world," he said.

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Meanwhile, Legit.ng had reported that Godwin Emefiele appeared before the Senate committee on banking, insurance and other financial institution for screening.

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Source: Legit.ng

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