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Economic Recession: The Worst is Over – CBN Governor, Godwin Emefiele

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Nigeria’s Central Bank Governor, Mr. Godwin Emefiele, has expressed strong belief that Nigeria will be out of recession by the 4th quarter of the year.

Speaking on Sunday, he said things are in place to ensure this.

According to him, the CBN has established a bridge fund to help government stimulate the economy through the funding of capital projects.

“I am optimistic that based on the actions being taken by the monetary and fiscal authorities, the fourth quarter results will show evidence that we have started to move out of the recession,” he stated.

“The worst is over. The Nigerian economy is on the path of recovery and growth. So, please if you are a bystander or sideliner, you are losing; join the train now before it leaves the station.”

The recent injection of N350bn ($1bn) into the economy will also help speed things up, he said.

Experts however disagreed with him, saying it would be unlikely for Nigeria to be out of recession before the end of the year.

 



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