The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele has said that he hopes to take the Nigerian economy where it was when he was a child.
The apex bank boss said this on Tuesday during an interview on Arise TV monitored by Galantnaija.
The CBN under the leadership of Emefiele has introduced many intervention programmes to boost the economy and take it to the path of sustainable growth.
Emefiele who turned 60 recently may have experienced a childhood period where Nigeria evolved from a poor agricultural economy into a relatively rich, oil-dominated one. In 1969 the oil sector accounted for less than three per cent of Gross Domestic Product (GDP) and a modest $370m in exports (42 per cent of total exports); while Nigeria’s per capita income was only $130.
Both the story is different currently with the country having to depend on oil for 95 per cent of foreign exchange earnings with unemployment rate rising to as high as 33 per cent.
According to CBN Governor, he said,
“If through our policies we can just return or move Nigeria close to what it was when I was growing up, then I can leave office look back and thank God that we left something for our children.