The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday, projected that Nigeria’s Gross Domestic (GDP) growth will rise to 3% in 2019 as against 1.93% recorded in 2018.

Mr Emefiele, in a keynote address delivered at the BusinessDay Post-Election Economic Agenda conference in Lagos, also said the apex bank will maintain its tight monetary policy stance and stable exchange rate throughout the year. He stressed that the nation’s economic recovery has become self sustaining with the GDP expected to pick up in the first half of the current year.

According to him, The CBN expects inflation rate to rise to 12 percent and moderate downward thereafter owing to productivity gains in the agricultural and manufacturing sectors.
He, however, noted that the CBN would adjust the Monetary Policy Rate (MPC) in line with unfolding conditions and outlooks. Just as in the previous year, he said the apex bank would continue in its drive to ensure that the MPR rate is set to balance the objectives of price stability with output stabilization.

On the exchange rate policy, he said the CBN, in spite of expected pressures from the volatility in the crude oil markets, would maintain its stable exchange rate over the next year. “Gross stability is projected in the foreign exchange market, given increased oil production and contained import bill,” he noted.

The CBN governor expressed optimism that the country’s Balance of Payments (BoP) would remain positive in the short-term, Emefiele said that the current account balance could improve further if oil prices continued to recover. He assured that this would be “supported by improved non-oil performance as diversification efforts begin to yield results to reduce undue imports.”

SOURCE: https://www.trendingaccounting.com/2019/03/cbn-projects-3-gdp-growth-in-2019.html

We have been hearing this for the past four months

That dunce cap called Emefiele should go. Is Buhari under a spell?

FTC

Does this dude realize that he most likely has just a couple of months left in office?

Optimism doesn't increase GDP. some of the economic strategy are no longer viable and are comatose

Very purposeful and consistent government, dealing and resolving the economic fundamentals that had for so long, held us back. At least one can understand our growth trajectory, unlike the vodoo and Eldorado economy being promised us by the other people from INEC server.

hisexcellency34:
That dunce cap called Emefiele should go. Is Buhari under a spell?

dude they won't put a yoruba man there.

Which magic do you want to perform?

Are you mad? What's my own with Afonja becoming CBN Governor.

naijapips04:


dude they won't put a yoruba man there.

I hope the projection will not just end as a keynote address.

Hope not only on paper.Government of trial and error.We pay your suppliers in china in RMB

9jaRealist:
FTC

Does this dude realize that he most likely has just a couple of months left in office?

And so? So he should close CBN gates because he will soon leave office? Please CBN is not Emefiele and Emefiele is not CBN. Work continues from where he will stop.

jericco1:
Optimism doesn't increase GDP. some of the economic strategy are no longer viable and are comatose

There are many different things that affect the GDP, such as interest rates, salaries, infrastructure investment, consumer confidense and even political instability. All of the factors can either be categorized as demand-side factors or supply-side factors.

Demand-side factors, such as interest rates can affect the spending power of customers. Lowering the interest rate decreases the rates on loans etc this leaves more spending money for families, where higher interest rates and tax can cut down on family expenditure. Consumer confidence directly affects how much people will spend or save. With the propose increase of minimum wage, it will affect GDP positively as inflation rate also decreases, people will likely to increase on their purchases and hence the damand factor comes to play.

Supply-side factors, such as the level of infrastructure development can affect how companies can supply their goods or services. Without good roads and communications, a company may not be able to be competitive.

At the center it is expected that with the continuation of the APC led govt, there will be political stability, this will invariably influence the growth of the economy.

Inother words, its a no-brainer. I will make a forcast of GDP at 2.50 at the end of 2019 at the list. When the rail projects are completed all over the country, this figure will rise gradually.

So oga stay positive, things are looking up!

lapazi:


There are many different things that affect the GDP, such as interest rates, salaries, infrastructure investment, consumer confidense and even political instability. All of the factors can either be categorized as demand-side factors or supply-side factors.

Demand-side factors, such as interest rates can affect the spending power of customers. Lowering the interest rate decreases the rates on loans etc this leaves more spending money for families, where higher interest rates and tax can cut down on family expenditure. Consumer confidence directly affects how much people will spend or save. With the propose increase of minimum wage, it will affect GDP positively as inflation rate also decreases, people will likely to increase on their purchases and hence the damand factor comes to play.

Supply-side factors, such as the level of infrastructure development can affect how companies can supply their goods or services. Without good roads and communications, a company may not be able to be competitive.

At the center it is expected that with the continuation of the APC led govt, there will be political stability, this will invariably influence the growth of the economy.

Inother words, its a no-brainer. I will make a forcast of GDP at 2.50 at the end of 2019 at the list. When the rail projects are completed all over the country, this figure will rise gradually.

So oga stay positive, things are looking up!

Thanks for this explicit explanation

...contributed by Yoruba in the southwest.. If any South East talk, I go show una weeeehn


Imagine the whole South East igr no even reach ogun state. Yet they are developas

contigiency:
And so? So he should close CBN gates because he will soon leave office? Please CBN is not Emefiele and Emefiele is not CBN. Work continues from where he will stop.

The “so” is that he cannot be proclaiming the CBN’s monetary policy for the YEAR if he will be out of office in 2-3 months! SMH

contigiency:


And so? So he should close CBN gates because he will soon leave office? Please CBN is not Emefiele and Emefiele is not CBN. Work continues from where he will stop.

And the new CBN Gov might champion a drastically different monetary policy...
In fact, one of the reported contenders Bismarck Rewane regularly and repeatedly publicly campaigns for an expansionist policy.

I totally disagree!
When you factor debt-to-GDP ratio which reflects the government's finances and the finances of the nation as a whole, one of three things HAS to happen
1. less government spending,
2. encouraging growth,
3. increasing tax
Now we know this government is incapable of real growth so expect less govt spending and increased taxation of an already overburdened populace
the only official that gets it is Dino Malaye (surprisingly I might add)
But like most 'palaces' you only hear the truth from the palace jesters

lapazi:


There are many different things that affect the GDP, such as interest rates, salaries, infrastructure investment, consumer confidense and even political instability. All of the factors can either be categorized as demand-side factors or supply-side factors.

Demand-side factors, such as interest rates can affect the spending power of customers. Lowering the interest rate decreases the rates on loans etc this leaves more spending money for families, where higher interest rates and tax can cut down on family expenditure. Consumer confidence directly affects how much people will spend or save. With the propose increase of minimum wage, it will affect GDP positively as inflation rate also decreases, people will likely to increase on their purchases and hence the damand factor comes to play.

Supply-side factors, such as the level of infrastructure development can affect how companies can supply their goods or services. Without good roads and communications, a company may not be able to be competitive.

At the center it is expected that with the continuation of the APC led govt, there will be political stability, this will invariably influence the growth of the economy.

Inother words, its a no-brainer. I will make a forcast of GDP at 2.50 at the end of 2019 at the list. When the rail projects are completed all over the country, this figure will rise gradually.

So oga stay positive, things are looking up!

With a population growth in excess of 2% and inflation expected to rise beyond 12% in the year and close to a million graduates entering the unemployment market each year, a 3% growth rate is another name for depression.


Any growth rate less than 5% in Nigeria is economic suicide.


Is anyone in the Buhari Government listening at all?

is it that there is no one who can engage me in productive activities in Nigeria? is it that honest hard working people who have no connection in government will remain homeless and hungry except one go into crime? I have a family to care for, jobless with no resources to establish little idea I have, I just need someone to engage me in whatever business you are doing, whatever you have to offer me will be appreciated , I'm depressed and I need something doing, location is not a problem because I'm willing to move anywhere, this is something that pains me so much, I just need one opportunity, I just need a chance to work and prove myself. please.

lapazi:


There are many different things that affect the GDP, such as interest rates, salaries, infrastructure investment, consumer confidense and even political instability. All of the factors can either be categorized as demand-side factors or supply-side factors.

Demand-side factors, such as interest rates can affect the spending power of customers. Lowering the interest rate decreases the
rates on loans etc this leaves more spending money for families, where higher interest rates and tax can cut down on family expenditure. Consumer confidence directly affects how much people will spend or save. With the propose increase of minimum wage, it will affect GDP positively as inflation rate also decreases, people will likely to increase on their purchases and hence the damand factor comes to play.

Supply-side factors, such as the level of infrastructure development can affect how companies can supply their goods or services. Without good roads and communications, a company may not be able to be competitive.

At the center it is expected that with the continuation of the APC led govt, there will be political stability, this will invariably influence the growth of the economy.

Inother words, its a no-brainer. I will make a forcast of GDP at 2.50 at the end of 2019 at the list. When the rail projects are completed all over the country, this figure will rise gradually.

So oga stay positive, things are looking up!

My rational colleague have said it all

Shows how poor the economic policy has been, I can't even mention who is the Minister of Economy and any economic policy in the last 1yr. 3% growth projection is ridiculous for a country in need of growth and development.

[s]

Timekeeper:
...contributed by Yoruba in the southwest.. If any South East talk, I go show una weeeehn


Imagine the whole South East igr no even reach ogun state. Yet they are developas

[/s]

It’s not so hard to spot all this Flatt headz like the back of Kia picanto. They don’t always sound SenCBU

lapazi:


There are many different things that affect the GDP, such as interest rates, salaries, infrastructure investment, consumer confidense and even political instability. All of the factors can either be categorized as demand-side factors or supply-side factors.

Demand-side factors, such as interest rates can affect the spending power of customers. Lowering the interest rate decreases the rates on loans etc this leaves more spending money for families, where higher interest rates and tax can cut down on family expenditure. Consumer confidence directly affects how much people will spend or save. With the propose increase of minimum wage, it will affect GDP positively as inflation rate also decreases, people will likely to increase on their purchases and hence the damand factor comes to play.

Supply-side factors, such as the level of infrastructure development can affect how companies can supply their goods or services. Without good roads and communications, a company may not be able to be competitive.

At the center it is expected that with the continuation of the APC led govt, there will be political stability, this will invariably influence the growth of the economy.

Inother words, its a no-brainer. I will make a forcast of GDP at 2.50 at the end of 2019 at the list. When the rail projects are completed all over the country, this figure will rise gradually.

So oga stay positive, things are looking up!

Good one

Truefaith:
With a population growth in excess of 2% and inflation expected to rise beyond 12% in the year and close to a million graduates entering the unemployment market each year, a 3% growth rate is another name for depression.


Any growth rate less than 5% in Nigeria is economic suicide.


Is anyone in the Buhari Government listening at all?

Yeah, but Either by 1,2 or 5%,, as long as it’s in increasing, it’s all adding up

lapazi:


There are many different things that affect the GDP, such as interest rates, salaries, infrastructure investment, consumer confidense and even political instability. All of the factors can either be categorized as demand-side factors or supply-side factors.

Demand-side factors, such as interest rates can affect the spending power of customers. Lowering the interest rate decreases the rates on loans etc this leaves more spending money for families, where higher interest rates and tax can cut down on family expenditure. Consumer confidence directly affects how much people will spend or save. With the propose increase of minimum wage, it will affect GDP positively as inflation rate also decreases, people will likely to increase on their purchases and hence the damand factor comes to play.

Supply-side factors, such as the level of infrastructure development can affect how companies can supply their goods or services. Without good roads and communications, a company may not be able to be competitive.

At the center it is expected that with the continuation of the APC led govt, there will be political stability, this will invariably influence the growth of the economy.

Inother words, its a no-brainer. I will make a forcast of GDP at 2.50 at the end of 2019 at the list. When the rail projects are completed all over the country, this figure will rise gradually.

So oga stay positive, things are looking up!

There are so many holes in your argument and I leave them for you to discover.
All your grammar will not change the fact that Buhari has failed. You can't give what you don't have. Buhari cannot grow Nigerias economy

StaffofOrayan:
I totally disagree!
When you factor debt-to-GDP ratio which reflects the government's finances and the finances of the nation as a whole, one of three things HAS to happen
1. less government spending,
2. encouraging growth,
3. increasing tax
Now we know this government is incapable of real growth so expect less govt spending and increased taxation of an already overburdened populace
the only official that gets it is Dino Malaye (surprisingly I might add)
But like most 'palaces' you only hear the truth from the palace jesters

Ok! I most admit you made a valid point at the bolded + i left it out from my initial post.
However when you say "You totally disagree" with my assertions? i can only imagine that you want to drag me into some kind of back and forth.

I'm not pro APC but pro Human i like seeing logic in things + I hate partisan politics, it clouds the purity of thoughts and makes interlectuals look stupid because you cant tell which opinion is honest and which one is polically motivated.

And you now mentioned Dino

contigiency:
Very purposeful and consistent government, dealing and resolving the economic fundamentals that had for so long, held us back. At least one can understand our growth trajectory, unlike the vodoo and Eldorado economy being promised us by the other people from INEC server.

[img]https://media1./images/41623c30893884b0cd1b2d696a3abd33/tenor.gif?itemid=9495358[/img]

One is advised not to drink recklessly,so you don't you nonsense like this ..