The Monetary Policy meeting of the Central Bank of Nigeria has risen from its regular meeting with a promise to do more to stimulate economic growth through a variety of monetary tightening moves. The Committee also called for the passage of the 2016 budget without further delay.
Rising after the meeting with a communiqué read by the Governor of the Central Bank, the Monetary Policy Committee says the economy has not performed as well as it should and that monetary policies will be geared towards stimulating the real sector.
The Committee added that weakening macro-economic environment and a variety of other factors are responsible for the current decline in performance by the real sector. It however announced the following decisions which it says will help in stimulating growth.