Dangote Praises CBN, Emefiele’s Policies over Recovery of Nigeria’s Economy from Recession

Posted by African Examiner Business News, Featured, Government Buz, Latest Headlines Wednesday, June 7th, 2017

(AFRICAN EXAMINER) – President of the Dangote Group, Alhaji Aliko Dangote, has commended the policies of the Central Bank of Nigeria, saying they contributed immensely to the recovery of the country’s economy from recession.

He also commended the Governor of the apex bank, Godwin Emefiele, saying his resilience to keep going despite the challenges and criticisms faced by himself and the CBN has helped to stabilize the country’s economy.

Speaking at the Zik Awards in Lagos, Dangote, commended the CBN for its contributions to the real sector of the economy and declared that the CBN interventions in the agriculture sector is helping to stabilize food prices in the country.

Of Emefiele, Africa’s richest man declared, “he has contributed in saving the Nigerian economy from recession. The CBN has been very transparent in its policies and we are very grateful for the contributions of the CBN in helping the economy come out of recession.”

Emefiele was also bestowed with the prestigious award for Professional Leadership by the organizers of the event describing him as a humble and courageous patriot who had exhibited dexterity and resilience in managing the economy in the turbulence of recession.

Organizers of the award said Emefiele’s singular courage, commitment and nationalist passion led to the conception and implementation of the CBN Anchor borrowers programme (ABP) which has in just one full year added over two million tons of rice to the national output and created more than half a million of direct jobs.

“CBN’s management of the foreign exchange market under the watch of Godwin Emefiele is also worthy of mention,” the organizers stated.

“At a time when other countries, notably Venezuela, Egypt and Angola were reeling under the vagaries of galloping inflation and social strife due to severe exchange rate depreciations occasioned by global commodity price collapse, Emefiele in a most humble, courageous, yet ingenious manner led the Central Bank of Nigeria to adopt creative and innovative strategies by which Nigeria has been saved from a sure disaster of currency failure and a potentially debilitating hyperinflation that would have decimated the little incomes of Nigeria’s poor.”