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Civil Society Groups Laud CBN On Fiscal Policy, Inflation Rate



Members of Coalition of Civil Society Groups, at its just concluded 4th All Nigeria Civil Society Economic Conference held in Abuja yesterday has commended the management of the Central Bank of Nigeria (CBN) on the fiscal policy and urged the apex bank to sustain recent drop of inflation rate.
The conference also implored federal government to improve fiscal spending to ensure more stability of the economy.
The coalition in a communiqué jointly signed by the president, Bassey Etuk Williams, chairman, Communiqué Drafting Committee, Yemi Akanni, and Dr. Hauwa Mohammed said the conference considered the improvement recorded on the economy, new economic strategy and other several monetary policies introduced to make the economy stable.
“The renewed policies of Central Bank were highlighted along with the several intervention policies of the federal government that bothers on the economy was discussed.

“These economic policies introduced has been of great importance to the country as our people are feeling relieved gradually, thus a vote of confidence was thereafter passed on the CBN Governor and his entire team.
“We also wish to encourage the federal government through CBN to deepen the new economic growth model that will help sustainability of the new economic policies that will encourage participation by relevant stakeholders.
“And sustenance of the improved economic indices, rising investment in agriculture and infrastructure as it will sustain the country as we are out of recession. This we observed was as a result of FX window introduced by CBN which now produces higher turnover that has improved the confidence on the investors,” it stated.
The conference also recommended that the federal government sustain the increase of the country’s external reserves, saying the increase recorded in raw materials, solid materials and capital importation must be sustained to ensure the economic growth continues.



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