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Wednesday, August 17, 2022

Central Bank of Nigeria in 2022, to increase access to loans for households.

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According to Godwin Emefiele, Governor of Nigeria’s Central Bank, the objective of the apex bank in 2022 is to increase access to loans for households.

He said, “The policy focus of the bank for 2022 is with a pledge to sustain improved access to finance and credit for households and businesses, mobilise investment to boost domestic productivity, enable faster growth of non-oil exports, and support employment generating activities.”

Emefiele said one of the vital lessons learned from the COVID-19 outbreak was the need to make conscious measures to diversify Nigeria’s economic base.Emefiele also said that the country must do all necessary to decrease the country’s imports of products.

Proactive steps on the part of stakeholders in the private sector, in collaboration with the government in supporting the growth of sectors such as manufacturing, ICT, and infrastructure, will strengthen our ability to deal with the challenges of COVID-19, and stimulate further growth of our economy,” he said.

On the importance of creating an efficient infrastructure ecosystem in Nigeria and the importance of improved infrastructure in the development of the Nigerian economy, he revealed that all necessary approvals had been obtained for the Infrastructure Corporation to begin operations in early 2022.

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