Central Bank of Nigeria Unveils Trend of Policy for 2022

The Central Bank of Nigeria (CBN) has revealed and reassured Nigerians its policy focus will encompass finance and credit for households, small and medium-sized enterprises in 2022.

The CBN governor, Godwin Emefiele further elucidated the importance of Stakeholders Corporation to strengthen the economic growth and prevent sporadic shock that could deplete wealth creation in the economy.

His words” The policy focus of the bank for 2022 is with a pledge to sustain improved access to finance and credit for households and businesses, mobilize investment to boost domestic productivity, enable faster growth of non-oil exports, and support employment generating activities.”

Emefiele further revealed after COVID-19 outbreak precautions must be taken through economic diversification to prevent draconian effects to Nigeria’s economic base. He further discouraged importation to improve welfare and productivity.

 “Proactive steps on the part of stakeholders in the private sector, in collaboration with the government in supporting the growth of sectors such as manufacturing, ICT, and infrastructure, will strengthen our ability to deal with the challenges of COVID-19 and stimulate further growth of our economy.”

Concurrently, Godwin emefiele stressed the significance of infrastructure in the Nigerian eco-system, explaining that the Infrastructure Corporation of Nigeria (InfraCo) will be solely responsible for approving all projects from 2022.

The concluded by revealing a key revenue source from infrastructure projects such as the Abuja-Kano road amongst other will be a toll fee taxed from a designated checkpoint.