Emefiele urges positive reportage of economic issues – Today

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday called for positive reportage of the Nigerian economy by journalists.

Emefiele made the call while delivering a keynote address at the 22nd Finance Correspondents and Business Editors’ Seminar in Abakiliki.

The seminar was on the theme: “Financing Nigeria’s non-oil sector for sustainable economic development.” He said that foreign investors formed their perception of the Nigerian economy based on what they read and hear in the media.

He said that the CBN had gone beyond monetary and price stability to developmental activities that would stimulate economic growth.

He said these developmental initiatives were necessary because Nigeria’s developing economy was inherent with developmental challenges.

Emefiele, who was represented by the Director for Monetary Policy Department, Mr. Moses Tule, noted that the apex bank had committed N220 billion into agriculture, Micro, Small and Medium Enterprises (MSMEs) and infrastructure.

He said that some of the interventions were the Agricultural Credit Guarantee Scheme Fund (ACGSF) and the Commercial Agricultural Credit Scheme (CACS).

He added that the interventions were not intended to crowd out financial institutions in credit delivery but to serve as incentives to propel lending at reasonable rates to the real sector.

Governor Dave Umahi of Ebonyi State, while declaring the seminar open, promised Nigerians a bumper harvest of rice from the state.

Umahi said that the state was involved in various agricultural programmes to meet food sufficiency for its citizens.

He also said that the state government would collaborate with a private investor to resuscitate the state’s cement company–Niger Cement.

Umahi added that Niger Cement, when fully operational, would provide employment opportunities for its citizens and contribute to the economy of the state and the nation.