Researchers Demand Quality Monetary Policies From Cardoso

A Nigeria-based independent think-tank and research organisation, Pol Eco Analytics, has called on the new Central Bank of Nigeria (CBN), Dr Michael Olayemi Cardoso, to implement quality monetary policies to grow the Nigerian economy.

It urged the CBN boss to recognise the need to chart a new course and endeavour to link the critical reforms with improving fiscal and trade policies of the federal government that would strategically lead to an export-oriented economy.

In a statement signed and made available to LEADERSHIP yesterday in Abuja by the senior researcher of Pol Eco Analytics, Adefolarin Olamilekan, said the CBN governor can achieve this by initiating critical monetary reforms to address macro and microeconomic imbalances, foreign reserve challenges, robust FX management and guarded interventions in the real sector and sub sectors of the nation economy.

According to him, the Nigerian economy performance within the first quarter of 2023 economic growth weakened and real gross domestic product (GDP) growth fell from 3.3 percent in 2022 to 2.4 percent year-on-year (y-o-y) in Q1 2023.

He said, “On the other hand, real gross domestic product (GDP) improved slightly  in grow