Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says there is no disharmony between the bank and ministry of finance.
Speaking at a press briefing in WashingtonEmefiele said both the monetary and fiscal authorities were working hand-in-hand to get the much-desired growth needed to get Nigeria out of recession, and towards much-needed growth.
In September, Kemi Adeosun, the minister of finance, said the fiscal authorities were in need of low-interest rates, to reduce the cost of borrowing.
However, the Monetary Policy Committee (MPC) of the CBN, against Adeosun’s request, held interest rates at 14 percent, signalling some disunity between fiscal and monetary authorities.
Both Adeosun and Emefiele say there is no such disharmony, as that both authorities are working to achieve the same goal of driving growth.
“Just because the monetary policy committee finds themselves in a situation where they are looking at their indicators like inflation and money supply among others, they make their decisions based on that and that is always respected,” Adeosun said.
“I don’t see a disharmony but blown out of proportion. I am not a member of the committee and I don’t see what they do. We are all working together with one objective, which is to get the economy growing.”
Emefiele corroborated Adeosun’s stance, by saying: “There is no disharmony, we are all poised to see to it that we actually achieve growth in the Nigerian economy.
“If you read my vision statement just about three days after I assumed office, one of the core issues that I raise at that conference was that we would try to pursue a low-interest rate regime.
“We feel that when people are able to access loans at low-interest rates, it helps improve growth, reduce unemployment, boost industrial capacity and the rest.
“Of course, I’m trying to say it is something that eventually we would have to look at, but based on the numbers that the monetary policy committee saw – based on the data that was available – the MPC felt we can pursue growth through another angle. It has nothing to do with disharmony.
“I feel it is important for me to also join the honourable minister to confirm that there is no disharmony, we are all working together and I believe that in due course, we would achieve the growth that we badly desire for the country.”
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
Subscribe to:
Post Comments
(
Atom
)
APC useless government is conflicts confusion and disharmony everywhere.
ReplyDeleteChanji dole!
Sai Baba!
Enter your comment...dis government nawa ooo chanji dole people are dieing hmm
ReplyDeleteHome-court advantage was huge because of commercial flights," Clippers coach Doc Rivers says. "It was the travel. And nightlife was a little different back then. You knew you were staying overnight, but you were also at the airport at 5:30 in the morni
ReplyDeleteMarch Madness
March Madness Live
March Madness Live Stream
March Madness 2017
March Madness 2017 Live
ncaa March Madness
ncaa march madness live
ncaa tournament
March Madness Bracket
ncaa final four
Often, guys wouldn't go to bed before then. Now, instead of partying, they're 30,000 feet in the air. And then there's one more little thing: NBA players are poisoning themselves far less.