FG Must Address ‘Pressure Points’ in Economy, FSDH Says - THISDAYLIVE via thisdaylive
eak disposable income in the country; high unemployment rate; weak infrastructure development in the economy that may not support the growth ambition of the federal government; economic depression in the real estate sector; fragile foreign exchange market and weak revenue generation for the federal government, which has led to large fiscal deficits.
“There is the need for human capacity building in business management and leadership. This must not be left to business schools, which are only affordable to a few people “While we understand the need for the government to use the import duties to encourage investments in the local auto industry, a graduated import duty policy for a few years, say five years, will be appropriate
According to him, the Central Bank of Nigeria needs to maintain its tight monetary policy stance to ensure price stability.Continuing, the FSDH report projected that February 2019 inflation rate would drop marginally to 11.31 per cent, from 11.37 per cent in January, even as it anticipated that inflation to remain in double digits.
In continuation of its periodic intervention in the interbank segment of the foreign exchange market, the Central Bank of Nigeria last Friday, injected the sum of $269.92 million and CNY 31.34 million in the Retail Secondary Market Intervention Sales of the foreign exchange market. The naira exchanged at N357/$1 on Friday in the Bureau De Change segment of the market, while the Chinese Yuan, closed atCiting the whopping $4 billion spent annually on importation of textile materials into the country, the CBN last week added all forms of textile materials to the list of items that are not eligible for foreign exchange from the official windows with immediate effect.
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