Saturday, August 2, 2025
  • Share your story
  • About
  • Contact
Economy FootPrint
  • Home
  • News & Politics
  • Opinion
  • Finance & Economy
  • Aviation
  • Editorial
  • Transport & Blue Economy
  • Features | Analysis
  • Health | Environment
Economy FootPrint
Home Finance | Insurance | Pension

‘Nigeria’s Economy Cannot Afford Persistent Double-Digit Inflation’

Clems Ukechia by Clems Ukechia
September 28, 2023
in Finance | Insurance | Pension, Top News
Reading Time: 1 min read
0
As the naira continues to slide at the parallel market, what options for CBN?
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) has been told to tame inflation as the economy cannot afford persistent double-digit interest rates.

“The Nigerian economy cannot afford the current persistently high double-digit general inflation of 25% with food inflation at a staggering 29%, macroeconomic instability, low investment drive, sluggish economic growth, escalating poverty 64% and fragility that have compounded unemployment at 37%” Pol Eco Analytics, said in a statement.

Related posts

Heirs Insurance Launches Inaugural Creators Fellowship, Partners with Influencers to Drive Insurance Literacy

Heirs Insurance Launches Inaugural Creators Fellowship, Partners with Influencers to Drive Insurance Literacy

August 1, 2025
NSIB UNVEILS NEW REGULATIONS FOR RAIL, MARITIME, AIR TRANSPORTATION TO ENHANCE SAFETY

NSIB UNVEILS NEW REGULATIONS FOR RAIL, MARITIME, AIR TRANSPORTATION TO ENHANCE SAFETY

August 1, 2025

The statement signed by Adefolarin A. Olamilekan, the Snr Researcher at Pol Eco Analytics said “Domestic policies in the form of quality monetary policy from the CBN can play a major role in improving Nigeria’s economic performance, bring significant growth and buffers against any external shocks.”

The firm also called on CBN’s support to the real sector to grow forex. There should be well-structured strategic support to the real sector and sub-sector through compact measures to protect the manufacturing sector, MSMEs and cottage industries, in order to maximize the collective impact on growth, job creation, and poverty reduction in the nation, it said.

The firm said the new CBN Governor must recognized the “need to chart a new course and endeavor to link these critical reforms with improving fiscal and trade policies of the federal government, that would strategically lead to export-oriented economy.”

It also noted that Dr Michael Olayemi Cardoso can seize the opportunity to implement quality monetary policy to grow the Nigerian economy. By initiating critical monetary reforms to address macro and microeconomic imbalances, foreign reserve challenges, robust FX management, and guarded interventions in the real sector and sub-sectors of the nation’s economy.

Previous Post

Dana Air Pilot eulogized for safety consciousness

Next Post

Works Minister Locked in the Office by Protesting Staff

Next Post

Works Minister Locked in the Office by Protesting Staff

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Transcorp Deliver Strong Performance as H1 2023 Profit Hit N18.5bn

2 years ago

Ortom ex-Chief of Staff Attacker’s Demand  N100M for Wife, Cook’s Release

1 year ago
NIMC Logo

NIMC Successfully Migrates all Telcos to NIN Verification Platform, NINAuth

2 days ago

Transcorp’s CEO Owen Omogiafo Champions Equitable Energy Access, Sustainable Energy Transition and Financing at FII in Saudi Arabia

9 months ago

FOLLOW US

  • 86.2k Followers

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

BROWSE BY TOPICS

2023 Benue Budget Abuja-Kaduna Rail Access Corporation Access pension airports concession Aviation Ayu Benue Budget Benue Community Buhari Business CBN Central Bank Dana Air Economy FGPL Herdsmen Herdsmen attacks insecurity insurance Maritime Min of Transport MSMEs NAICOM NCAA Nigeria Nigeria -Cameroon Border Post Nigeria Air NRac Onne Port ooh Orrom Ortom PDP PenCom pension Railway Sambo Jaji Transcorp Transcorp Group Transcorp Hotels Plc UBA Ukohol Wike Wildon Ideva

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Economy Footprint

The EconomyFootprint is published by Ideas Tent Communications Ltd®. All Rights Reserved.

Follow us on social media:

Recent News

  • NCS Announces Migration From Fast Track Scheme To Authorized Economic Operator Programme
  • Troops Neutralize Bandit, Recover Arms Cache In Benue Community
  • Customs Unveils Renewable Energy Handbook, Strengthens EU-Germany-GIZ Partnership

Category

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Recent News

NCS Announces Migration From Fast Track Scheme To Authorized Economic Operator Programme

NCS Announces Migration From Fast Track Scheme To Authorized Economic Operator Programme

August 1, 2025
Troops Neutralize Bandit, Recover Arms Cache In Benue Community

Troops Neutralize Bandit, Recover Arms Cache In Benue Community

August 1, 2025
No Result
View All Result
  • Home
  • Politics
  • News
  • Sports
  • Opinion