Anna Okon
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has called on managers of the economy to review downward the Monetary Policy Rate, which is currently at 14 per cent, in order to attract the much needed Foreign Direct Investments to the country so as to drive growth.
The National President, NACCIMA, Chief Alaba Lawson, stated this on the sidelines of a press briefing on Monday to review the state of the nation’s economy.
“The private sector is advocating a review of the policy to encourage the sector and more investments,” she noted.
According to the NACCIMA president, the Central Bank of Nigeria’s decision to retain the MPR and Cash Reserve Ratio at 14 and 22.5 per cent, respectively, is not ideal to attract private sector investments.
Citing data from National Bureau of Statistics, Lawson stated that the Nigerian economy grew by…
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