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CBN Policies Helped In Recovering From Recession – Dangote

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By BUKOLA IDOWU, Lagos
Africa’s richest man and President of the Dangote Group, Alhaji Aliko Dangote, has commended the recent policies of the Central Bank of Nigeria, saying they contributed immensely to the recovery of the country’s economy from recession.
Particularly, he commended the governor of the apex bank,  Godwin Emefiele saying, his resilience to keep going despite the challenges an criticisms faced by the CBN in recent times. Speaking at the Zik Awards in Lagos Dangote said the CBN interventions in the agriculture sector is helping to stabilize food prices in the country.
Commending his contributions to the real sector of the economy, Dangote said of Emefiele “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 had been bestowed with the prestigious award for Professional Leadership, having being described as humble, patriot and courageous 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, created more than half a million of direct jobs and is transforming rural lives in many states of the federation.
“CBN’s management of the foreign exchange market under the watch of Godwin Emefiele is also worthy of mention. 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,” the organizers stated.



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