Report

Nigeria Economic Commentary: Economic growth in focus

In a letter read on the floor of the Senate late last week, President Buhari has
noted that, having completed his first term in office, current CBN governor,
Godwin Emefiele, has been nominated for a second term. If approved by the
Senate, it would make him the first Governor to serve two terms since
Nigeria’s return to democracy in 1999. With the Nigerian economy entering a
downturn at the start of Emefiele’s first tenure, the past five years were rife
with challenges from many angles for the Governor to tackle, most of which
revolved around foreign currency, price levels (CPI) and growth. Here, we
analyze some of the governor’s major policy actions and reactions through
his first stint as CBN Governor.

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