CBN Gov Urges Urgent Diversification of Nigerian Economy

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has stressed the urgent need to diversify the Nigerian economy into other areas other than oil, even as he disclosed that the diversification efforts of the apex bank have begun to yield results, especially in the agricultural sector.

Emefiele, who stated this yesterday at the 33rd Seminar organised by CBN for Finance Correspondents and Business Editors in Lagos, explained that the apex bank is already leading the drive towards the diversification from oil through its numerous interventions.

The conference, which was held simultaneously in Lagos and Abuja, had, “Policy Options for Economic Diversification: Thinking Outside the Crude Oil-Box,” as its theme.

The CBN governor, represented by the apex bank’s Director of Corporate Communication Department, Osita Nwanisobi, said the apex bank had supported non-oil sectors such as agriculture, manufacturing, healthcare, education, power and aviation, and other allied economic value chains, adding that these efforts have begun to yield positive results.