Address Structural Bottlenecks To Boost Economy

He said structural infrastructures, including electricity, inflation and monetary policy, must be addressed to ensure a boost in the country’s economy.

The CBN governor, Yemi Cardoso, addressed that the current interest rate at 30 percent monetary policy criticized by private sector players, includingAliko Dangote, was set following focus on data available.

“It requires dealing with structural bottlenecks such as infrastructure (chiefly electricity), inflation and monetary policy (higher profits from investing in government securities), and others.

Cardoso said the Monetary Policy Committee was not oblivious to job creation and growth of the economy but had to tame inflation.

Moghalu said the federal government must encourage private sector credit to help drive the economy to production.

The MPC has made it very clear that for them the major issue is taming inflation have also made it very clear that they will do whatever is necessary to tame inflation.” “The MPC is not oblivious to the fact that ultimately we do want to grow..

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