The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said that the provision of cheap financing to boost local production of priority goods in critical sectors of the economy remained the key to achieving sustainable growth.
This, he said, would reduce reliance on foreign imports, which constitute a drain on the economy.
He spoke while delivering his keynote address, titled: “From Recession to Growth: The Story of Nigeria’s Recovery from the 2016 Economic Recession”, at the special convocation of the University of Nigeria, Nsukka (UNN), Enugu State.
Emefiele, also called for significant increase in the policy buffers, including the fiscal measures to increase the external reserve.
He said proactive fiscal actions, specifically, infrastructure investment was also required to enhance economic growth.
The governor further emphasised the need to diversify the revenue structure of the federal government to reduce its dependence on direct…
