The Governor of the Central Bank of Nigeria, Godwin Emefiele, says the apex bank is committed to ensuring financial system stability and improving access to credit.
Emefiele spoke in a recorded address to the 2022 edition of the apex bank’s Development Finance Department Retreat in Abuja on Monday.
The News Agency of Nigeria reports that the theme of the retreat was ‘Financing for Sustainable Development in Nigeria’.
The CBN governor said that the CBN had introduced several policies to improve access to credit for Micro, Small and Medium Enterprises over the last few years, deepen support to the real sector and build a robust system infrastructure.
According to him, the CBN has taken steps to intervene in the Nigerian economy beyond the traditional macroeconomic mandate of ensuring financial system stability and maintaining strong reserves.
“It is clear in my mind that posterity will judge us for all actions taken to bridge the gaps through our interventions.
“Those interventions are hinged at supporting economic activities, speeding up diversification of the production base and enabling infrastructural development in Nigeria,” he said.
He commended the staff of the DFD for their commitment and patriotism.
“Also speaking, the Governor of Jigawa, Muhammed Badaru, said that the sub-national governments had every reason to be thankful to the CBN and the DFD for efforts their support.
“We from the states have seen practical efforts by the DFD. Many states have testimonies of how the DFD has supported the states.
“In Jigawa, with the suppprt of the CBN, we have been able to move rice production from 92, 000 metric tonnes per annum in 2015 to 1,050,000 metric tonnes per annum in 2021.
“We were able to move rice processing factories from one to seven, and thousands of rice mills.
“And, together with other policies, we were able to move our Gross Domestic Product (GDP) from one trillion Naira in 2015 to N2.25trillion in 2021,” he said.
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