Dr Hassan Mahmud, Director, Monetary Policy Department of the Central Bank of Nigeria (CBN) has expressed optimism that the Nigerian economy is on the right path to recovery despite uncertainties in the domestic and global economy.
Mahmud stated this at the Mid-year Economic Review and Outlook 2021, organised by the CIBN Centre for Financial Studies, in collaboration with B. Adedipe Associates, in Lagos.
He said if policy challenges with exchange rates, insecurity, among others, were addressed effectively, the country would start seeing some positive projections into 2021 and the beginning of 2022.
His words, “Also, if the CBN forecasts for GDP growth are sustained and there is improved vaccination and the health hazards and lockdowns are not resurfacing, we will see GDP getting close to three per cent by the end of 2021,” he said.
“We will also see the inflation number coming down less than 13 per cent by the end of the year and further down to the NBS projection of single digit by 2022 or the middle of 2022.”
