CBN

CBN: Nigeria’s Economy Will Recover By 2 Percent In 2021…

Despite Economuc Crisis, CBN says Nigeria’s economy will grow by 2 percent in 2021.

Godwin Emefiele, governor of The Central Bank (CBN), said on Friday that the Nigerian economy will recover by 2% in 2021.

Newsonspot.com.ng recalls that Nigeria plunged into an economic crisis in November as a result of the COVID-19 impact on the economy and falling oil prices.
But Godwin Emefiele said he expects the problem to be temporary.

In addition, he said, he expects inflation to ease in the first six months of 2021.
He also defended the foreign exchange policy, saying it was “in line with the rest of the world” because the naira was allowed to appreciate itself in the market.

He added that there was no need to worry about Nigeria’s foreign reserves.

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