By Stanley Sunday
The governor of Central Bank of Nigeria, (CBN) Godwin Emefiele, has warned that if the country does not tackle the high rate of unemployment, another recession may be around the corner.
He expressed his concerns while delivering a lecture titled “Beyond the Global Financial Crisis: Monetary Policy Under Global Uncertainty,” at the University of Benin, Benin City on Wednes day.
Emefiele said the country has made progress in the year under review but more efforts must be made to reduce the country’s unemployment rate.
“From some of my concluding remarks, you may have observed whether you like it or not that there is global uncertainty that will unfortunately, most certainly, lead to another crisis.
“The question could be: how are we as Nigerians, particularly our leaders – I am talking of Monetary and Fiscal Policy Authority – preparing our country for the next set of crisis?
“We have luckily exited recession; we have seen recession bending downward to about 18.72 percent in 2017 to about 11. 37 percent today.
“We have seen reserves moving up but unfortunately, we still have issues and those issues bother around unemployment rate and those issues bother around how do we prepare our country,” he said.