L
LequteMan
Guest
It is becoming increasingly plausible that Nigeria's economy is undergoing diversification, a much needed development which could give it respite from the harsh effects of the current slump in prices of crude oil.
According to Ventures Africa, the first sigh of relief may be emerging from the macroeconomic spill overs from falling oil prices as Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the nation’s non-oil contribution to its current account would double this year.
Speaking during a courtesy visit to the Nigerian Stock Exchange (NSE) in Lagos, Emefiele reportedly said this as a way of sustaining the confidence of investors in the nation’s failing capital market, re-emphasizing the ongoing plan to diversify the structure of the economy.
“There is no need for anybody to panic because the Nigerian economy in our very view remains resilient. The Federal Government is doing much to diversify the nation’s economy and in due time we will begin to reap the benefits of these efforts.”
According to him, the fiscal authorities had introduced a number of measures to tackle the unfolding vulnerability, including developing the country’s non-oil revenue.
“The election will come and go and Nigeria will remain the same and economic activities will continue. I’m confident of Nigeria that we are one nation irrespective of the disagreements, we are one nation and we all must have faith in Nigeria.”
#Nigeria #GodwinEmefiele
According to Ventures Africa, the first sigh of relief may be emerging from the macroeconomic spill overs from falling oil prices as Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the nation’s non-oil contribution to its current account would double this year.
Speaking during a courtesy visit to the Nigerian Stock Exchange (NSE) in Lagos, Emefiele reportedly said this as a way of sustaining the confidence of investors in the nation’s failing capital market, re-emphasizing the ongoing plan to diversify the structure of the economy.
“There is no need for anybody to panic because the Nigerian economy in our very view remains resilient. The Federal Government is doing much to diversify the nation’s economy and in due time we will begin to reap the benefits of these efforts.”
According to him, the fiscal authorities had introduced a number of measures to tackle the unfolding vulnerability, including developing the country’s non-oil revenue.
“The election will come and go and Nigeria will remain the same and economic activities will continue. I’m confident of Nigeria that we are one nation irrespective of the disagreements, we are one nation and we all must have faith in Nigeria.”
#Nigeria #GodwinEmefiele
