CSOs task CBN on sustaining improved economic policies

As the 5th All Nigeria Civil Society Economic conference came to a close in Abuja, stakeholders at the conference have called on the Central Bank of Nigeria (CBN) to sustain the improved reform economic policies, rising investment opportunities and Agricultural development.

The stakeholders said the Small Medium Enterprises (SME’s) schemes of the apex bank is a welcome development as citizens are benefiting from it and livelihood is being provided for citizens instead of full dependence on white-collar jobs.

The Coalition of Civil Society in a communique signed by the President, Bassey Etuk Williams, chairman, Dr. Ibrahim Ahmed and secretary, Barrister Yemi Akanji communique drafting committee respectively after the conference said the sustenance of the improved reform economic policies, rising investment opportunities and agricultural development as well as SME’s schemes is a welcome development.

It added that citizens are benefiting from it and livelihood is being provided for citizens instead of full dependence on white collar jobs, it urged however that the windows of opportunities created should be made more easily accessible and open for all to easily benefit as this they said will reduce employment rates in the country.

Conference also looked at recent initiatives of CBN which are not only restricted to financial and monetary policy, but also targeted on enhancing economic growth via diversification of economy for growth formed major area of the discussion.

“This was done with expected roles of Civil Society Groups in advocating the policies as a means of allowing Nigerians to know about the initiatives and buy into it for expected deliverables of the initiators.

“Highlights of the various reform policies aimed at addressing the current economic challenges such as the anchor borrowers programme that provides credit facilities at single digits’ interest rate to farmers, credit schemes, accessing foreign exchange and stability of exchange rates, exclusion of about 41 items from foreign exchange and recent suspension of forex on food import were deliberated upon to encourage investors, the Communique said.

“The conference also applauded Mr. President for the re-appointment of the CBN Governor which we believe was as a result of his noticeable and responsive agenda to ensuring economic growth.

“The conference therefore urged that the CBN continue to sustain the recent reform policies initiated at ensuring that Nigeria diversify its economy and also encourage foreign investors.

“That the Federal Government through CBN should deepen and support the new economic reform policies aimed at economic growth and diversification. And that, vital institutions of Government like Ministry of Finance, Ministry of Agriculture continue to play significant supportive roles in the economic growth and economic advancement by boosting local content investment drive while also attracting Foreign Direct Investment (FDI) to ensure economic stability,” it added.