Governor
of the Central Bank of Nigeria, Godwin Emefiele has urged Nigerians to brace up
for the current economic realities as government would be forced to adopt some
hard economic policies in line with the harsh economic environment as a result
of low oil prices in the international market.
The
CBN boss stated this yesterday during a press briefing at the bi-monthly
Monetary Policy, MPC meeting in Abuja.
According
to him, “It is imperative to brace up for a longer period of low government
revenues from oil sources, which would necessitate hard and uncomfortable
choices as the economy transits to more sustainable sources of revenue,
consistent with the economic realities and strategic objectives of the country.
In the circumstance, certain tradeoffs must be envisaged and duly accommodated.
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