In some other news, Governor of the Central Bank of Nigeria, CBN GODWIN EMEFIELE has predicted that the nation will likely come out of recession by the fourth quarter of this year when the result of the various measures put in place by the federal government and the monetary authorities begin to manifest.
EMEFIELE at a briefing in Lagos at the weekend said one of such measures is the decision of the CBN to establish a bridge fund for the government to utilize, to stimulate the economy whenever there is a need for it.
According to him and I quote, “We are already in the valley, the only direction is to go up the hill and the government is doing everything possible to ensure that we move up the hill in the fourth quarter. Results will show evidence that we have started to move out of recession”, end of quote.
The Apex bank boss who confirmed that another batch of three hundred and fifty billion naira is to be released by the Federal Ministry of Finance to stimulate the economy insisted that the worst is over.