Godwin Emefiele, the sitting Governor of the Central Bank of Nigeria, CBN, has opined that Nigeria’s all-time high inflation at 14.2% will ease out by mid-2021.
The apex governor made the statement at the 55th Annual Bankers Dinner which was organized by the Chartered Institute of Bankers in Lagos.
According to him, due to the “significant cultivation and production of staple items during the dry season” and the fact that a lot of measures have been introduced to ensure the economy recovers, there is hope
This new information contradicts the previous pronouncement by the Minister of Finance, Budget and National Planning, Zainab Ahmed, who earlier disclosed that Nigeria will exit recession in the first quarter of 2021.
The Nigerian Bureau of Statistics announced that the country slipped into a second recession within a space of 5 years. Both during the administration of President Muhammadu Buhari.
