Why Nigeria’s Economy Can’t Grow – Emefiele

Godwin Emefiele, Governor of the Central Bank of Nigeria, CBN, has pointed out that the country’s current economy cannot grow.

Emefiele disclosed that the nation’s economy cannot grow due to the current level of insecurity.

The CBN boss spoke at the end of a two-day monetary policy committee meeting in Abuja on Tuesday.

According to Emefiele: “If you want an economy to grow, the level of insecurity must be low because if there is a high level of insecurity like what we see today, the economy will suffer.”

He also disclosed that Nigeria will receive 12 fighter jets from the United States, US, to fight insecurity in July.

The CBN boss said the arrival of the jets followed a pact signed between the Nigerian and US governments.

“About three years ago, the Federal Government and the US signed a pact that resulted in a government-to-government acquisition of military equipment out of which we are expecting 12 fighter planes. I am aware that six of them are coming to the country in the month of July and August,” he said.