Nigeria Must Prepare For Next Global Economic Crisis- Emefiele


Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele on Wednesday said that Nigeria must prepare for the next global economic crisis.

CBN governor reportedly disclosed this while delivering a lecture titled: ‘Beyond the Global Financial Crisis: Monetary Policy under Global Uncertainty,’ at the University of Benin, UNIBEN, in Edo State.

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According to Emefiele, more efforts must be made to cushion the Nigerian economy against the impending global economic crisis.

“From some of my concluding remarks, you may have observed, whether you like it or not, there is global uncertainty that will, unfortunately, most certainly lead to another crisis.

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“The question could be, how are we as Nigerians, particularly our leaders, I am talking of monetary and fiscal policy authorities, how are we preparing our country for the next crisis?

“We have luckily exited recession; we have seen recession pending downward to about 18.72 per cent in 2017 to about 11. 37 per cent today.

“We have seen the reserve moving up but unfortunately we still have issues and those issues border on the unemployment rate and those issues border on how we prepare our country,” he added.

Emefiele was recently reappointed on the 16th of May, 2019 as the governor of the Central Bank of Nigeria for a second term.


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