The central bank of Nigeria (CBN) has dismissed the alarm raised by governors that the economy may relapse into recession by the middle of next year.
Zamfara state Governor Abdulaziz Yari, who doubles as the chairman of the Nigeria governors’ forum (NGF), during a three-day retreat for returning governors and governors-elect in Abuja had urged incoming governors to brace for another round of recession.
But the CBN deputy governor, economic policy, Dr. Joseph Nnanna, who represented CBN governor Godwin Emefiele, dismissed the governors’ claims at the public presentation of the spring 2019 edition of regional economic outlook (reo) by the international monetary fund (IMF) in Abuja. Dr. Nnanna noted that “since the third quarter of 2016, when Nigeria started coming out of recession, the CBN have embarked on tight monetary policy in all its ramifications