Partners for Legislative Agenda for Nigeria, a coalition of civil society organisations and youth groups, has commended President Muhammadu Buhari for reappointing Godwin Emefiele as Governor of the Central Bank of Nigeria.
The group made the commendation on Friday in Abuja at a press conference by its Coordinator, Khalifa Bello Adamu.
Adamu noted that Emefiele’s reappointment was one of the dynamic moves of the President and a symbolism of a new dawn where high premium was placed on hard work and competence.
He said: “This is the direction we all expect the nation to drift to forthwith without parochial attachments; on this and much anticipation, we commend the government for doing the right thing on one hand and on another congratulate the beneficiary for being steadfast in serving his fatherland Nigeria diligently.
“We also trust that the Senate will do the needful and let the people’s man go.
“Upon taking over, his robust monetary policy and leadership aura swiftly stabilised the economy by 2015 in spite the nosedive of global oil price which holds firm monopoly of determining the stability of our economy.”
According to Adamu, the economic plan of the CBN governor was instrumental to the country’s overcome of economic recession, which affected many countries of the world.
Adamu listed some of the polices and strategies to include strategic fiscal policies for the government, agricultural programmes, steady and improved wages, savings, strategic investments, jobs and wealth creation, and private sector participation, which professionally are to assist in reversing the depression.
He said: “The foreign reserve accruals hiked from $23 billion in 2016 to $48 billion in 2018 and still counting; Federal Government approved grants and loans for states to upset backlogs of salaries, pension and gratuities running into tens of billions.
“The Anchor Borrower Programme leveraged billions for peasant farmers, which improved agricultural inputs and created jobs.
“Commercial banks were vigorously monitored to effectuate services and checked for proper adherence to established policies. They are now declaring more profits and customers are being protected. Win-Win for all.
“The economy responded and the currency recoiled, and is being stabilised at N360/$ at the open market and N358/$ in the banks for more than 24 months now, while inflation rate also declined from 19 per cent in 2017 to 11 per cent till date.”
The PLAN coordinator called on President Buhari to remain bold in consolidating on his performance and polices especially on the ban on items that can be produced locally to encourage local production.
He also urged the government to ensure that interest rates and inflation were further reduced, while protection should be given to Nigerian banking customer by steadily vetting the commercial banks.