This was a clear departure from the open fora created by previous sessions of the Senate for past CBN Governors to answer critical questions on the economy and monetary issues.
According to the Senate Committee chairman on Information, Aliyu Sabi Abdullahi, the CBN Governor presented a detailed, comprehensive and lucid account of the performance of the economy in the last one year.
The Senate spokesman said, “His (Emefiele) presentation began with the current global economic conditions, which have been characterised by external shocks, including the sharp decline in commodity prices, the geographical tensions along important global trading routes and tightening of monetary policy in the United States.
“He drew linkages of these occurrences with the Nigerian economy, especially with respect to the over 70 percent decline in oil prices from about $116 per barrel in June 2014 to about $30 per barrel currently.
“The Governor’s presentation also gave us an insight into the bank’s analysis and understanding of the situation, and therefore, the rationale underlying the countervailing policy actions it has taken over the last couple of months”.
The narrative further stated that going by Emefiele’s analysis, the country was not doing badly in many macroeconomic indices when compared to its peers.
No comments:
Post a Comment