Business
Analyst Wants CBN To Stabilise Economy, Currency
A social analyst in
Rivers State, Barr Noble Ejukwo, has called on the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele to without hesitation make good his promise of robust economy and stable currency in 2016.
Ejukwo, who made the call in an interview with The Tide correspondent in his office in Port Harcourt said the call became necessary following the dwindling economy and the currency depreciation.
He said the promise by the apex bank governor was heart warming, pointing out that he should set machinery in motion by involving additional measures to boost the nation’s economy and ensure the stability of the naira in the country.
According to him, the CBN boss had assured the people of Nigeria that the Nigerian economy was not as bad as being portrayed when compared with other economies in Africa, adding that he should without delay take proactive measure in ensuring stability of the economy and currency.
The analyst said the economic down-turn in the country should be tackled immediately and appealed to the present administration of Muhammadu Buhari to give the issue priority attention before it plunged into a crisis situation.
It would be recalled that Emefiele had recently in a media parley disclosed that CBN would soon start a nationwide campaign to sensitise Nigerians on items excluded from importation as part of efforts to save more foreign exchange and stabilise the nation’s currency.
“The solution to free fall of the naira is by controlling the demand for foreign currencies such as the dollar. If we are able to reduce importation, the demand for the dollar will fall automatically,” he opined.
He, however, advocated that Nigeria should go back to the farm which is a cheap means of resuscitating the economy.
Collins Barasimeye
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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