Nigeria: Is Emefiele's Promise of Under 10 Percent Inflation Rate Credible?

27 November 2017
interview

"When we talked about exiting recession in the second quarter of this year, many people did not believe. We are, (however) optimistic that our forecast to hit single digit (inflation rate) by next year will come to pass". (CBN Gov. Godwin Emefiele, speaking to the media, in Abuja on Tuesday 21st November 2017, after the Monetary Policy Committee meeting).

In view of the preceding expression of optimism, can Nigerians, now confidently, rest assured that the present economic hardship would recede, since the principal architect of monetary management, has promised that, by July 2018, the purchasing power of all Naira incomes, would fall by less than 10%, in place of the deprivations of the regrettable 15%+ loss in purchasing power of Naira in 2017.

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