Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Politics

These ‘Four Axis Of Evil’ Are Why The CBN Thinks Nigeria Is Still Underdeveloped

Nairametrics by Nairametrics
November 18, 2013
in Politics
These ‘Four Axis Of Evil’ Are Why The CBN Thinks Nigeria Is Still Underdeveloped
Share on FacebookShare on TwitterShare on Linkedin

lemo cbn

The Central Bank has never been one institution to shy away for criticising bad policy. Recently  the Deputy‑ Governor (Operation), Mr. Tunde Lemo  was at the Egba Economic Summit in Abeokuta,  the Ogun State capital where he gave a speech centred around why Nigeria has not developed. Whilst we all have reasons why the country continues to be in an under developed states, ascertains coming from the Apex bank cannot go unnoticed. Here is what he said’

In spite of the impressive macro economic performance, it did not translate into development as unemployment is still huge. The challenges are that Nigeria’s development is over-dependent on oil, with high inflation, huge import bills, and high level corruption. National unemployment statistics shows that the population size is 164 million and people between 15 and 35 years are 60 per cent while youth unemployment of Nigeria workforce is 30 per cent. Unemployment in rural areas is 23 per cent and unemployment in urban areas is 17 per cent, unemployment growth rate per annum is 16 per cent.

 

The CBN has pumped N300 billion in power and airline intervention fund and another N200 billion in commercial agriculture  credit scheme with a view to boosting the economy. Unfortunately this too hasn’t created the desired impact.

RelatedPosts

Nigerians more financially miserable as Misery Index rises to 62.79% in July 2022

7 best paying jobs in Nigeria for fresh graduates

Related

Tags: CBN NigeriaNews Reviewunemployment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Buhari congratulates William Ruto, Kenya’s president-elect, says both nations are partners in fight against terrorism
    • Nearly 67,000 investors lose everything as Bitcoin drops below $24K
    • FG’s implementation of Digital Switch-Over to prohibit Startimes, GoTV, Channels, others from self-carriage of signals

    Follow us on social media:

    Recent News

    Buhari congratulates William Ruto, Kenya’s president-elect, says both nations are partners in fight against terrorism

    Buhari congratulates William Ruto, Kenya’s president-elect, says both nations are partners in fight against terrorism

    August 16, 2022
    bitcoin trading

    Nearly 67,000 investors lose everything as Bitcoin drops below $24K

    August 16, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com