The Governor of the Central Bank of Nigeria , Mr. Godwin Emefiele, has said the economy will record strong growth in the third quarter of this year.
“It was also admitted at this session that those growth we will see, will be coming from emerging markets; and countries like India, China, like Brazil were mentioned and among them Nigeria, in Africa was mentioned as a country that will contribute to improvement to global growth in 2019. “Admittedly, we would say that the growth rate looks fragile – it still looks low, if compared with the traditional growth number that Nigeria normally displays, averaging at that time between 5 – 6 and in some cases seven percent, but we are happy that at least for seven consecutive quarters we have shown positive growth numbers for Nigeria.
Noting that the apex bank had to take some drastic decisions to bring Nigeria back from recession, some of which are producing the positive results, Emefiele stated that, “Yes, we admitted that it was a very painful period; but there was the need for our people to understand that the pain will be for a very short period and that in the long run, our people will benefit from it.
Source: Financial Digest (financialdigest.net)
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