The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has given an insight into the policy thrust of his second term, saying that he would aggressively pursue programmes that would ensure growth in a diversified economy.
Speaking at a Special Convocation Lecture of the University of Nigeria, Nsukka (UNN), yesterday, he also said that those who circumvent economic policies would be dealt with.
Mr. Emefiele who was given an honorary doctorate degree by the university urged all policy makers in the country to be forthright on how to return the nation to the path of growth and massive employment of the youth.
Mr Emediele, an alumnus of UNN, said:“I think in this next phase, we will focus on what we can do to consolidate our growth. We are talking about price stability, we must do something to improve growth. What did we do to bring inflation down? We must continue to do that. What did we do to reduce our imports? We will continue to do it.
“But I think it is important to keep on saying that Nigeria belongs to all of us and that we all have roles to play to make sure things get better. Get better in the sense that I will also emphasize that Nigerian policy makers are good at developing policies but the biggest challenge of Nigerian economic policies is that people try to circumvent policies.
“Given this opportunity now, we will make it very difficult for people to circumvent economic policies. Policies that are meant to diversify our economy will be pursued very aggressively. Policies that would help to create jobs for our children, we must learn to respect our policies.
“If you don’t respect the economic policies of this country, and you fall short of our economic policies as an economic saboteur, you will be dealt with.”
He said that Nigeria had wasted much growth opportunities in the past by abandoning agriculture and manufacturing sector(s) and depended on crude oil.
According to him, the only option available to the nation was to return to those sectors and more, with a view to producing for local consumption and export.
The Pro-chancellor of the university, Chief Mike Olorunfemi, who was represented by Ali Abdullahi Yunusa, a member of council, said that Mr Emefiele was given a second term because of his people-oriented policies and programmes.
In his remarks, the Vice Chancellor of the university, Prof. Benjamin Ozumba, disclosed that the institution had been breaking grounds in areas of research and had recently achieved 100 KVA electricity generation from organic waste.
“The Japan-trained Electrical Engineering Engineer and his team are set to produce 250 KVA plants which will supply the energy need of the entire university and its environs,” he added.
