Nike PopoolaThe Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has said that Nigeria will continue to implement policies that will reduce the importation of goods that can be produced locally. Emefiele said, “Our targeted focus on the agricultural and industrial sectors were driven by the vast opportunities for growth in these sectors, given our high population. In 2017, over 50 per cent of the contributions to Gross Domestic Product growth came from the agriculture and industrial sectors. In conserving the country’s forex, he said, “We introduced demand management approaches to conserve our reserves and support domestic production of certain goods in Nigeria. The Vice- Chancellor, University of Ibadan, Prof Abel Olayinka, said the different intervention schemes by the CBN had helped to boost agriculture and stimulated domestic production.

Source: Punch May 25, 2019 00:33 UTC