• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate Press Releases

COVID-19: Emefiele lists 8 things that can “transform” Nigeria

Abiola Odutola by Abiola Odutola
April 15, 2020
in Corporate Press Releases, Socio Economic, Spotlight
CBN health intervention fund gets new interest rate by March 2012, Nigerian banks’ non-performing loans drop significantly by 41% in 2019, External reserves decline by over 8% in 3 months, Nigeria’s external reserves increase by $1.36 billion in 13 days

Godwin Emefiele

Share on FacebookShare on TwitterShare on Linkedin

The Central Bank of Nigeria (CBN) has listed eight things that would transform the Nigerian economy.

In a document issued by CBN Governor, Godwin Emefiele and seen by Nairametrics, titled ‘Turning The COVID-19 Tragedy into an Opportunity for a New Nigeria’, he stated that no one knows what the world will look like after the pandemic, which is the reason it is quite important for Nigeria to look inwards for solutions.

According to him, Nigeria cannot afford to continue to rely on the world for food, education and healthcare, as the time has come to fully transform the nation into a modern, sophisticated and inclusive economy that is self-sufficient.

RelatedStories

“Nigerian stock market is not a reflection of the economy”– Egie Akpata 

“Nigerian stock market is not a reflection of the economy”– Egie Akpata 

November 30, 2024
FDI, foreign direct investment, Covid-19: Nigerian government explains how it will fund proposed N2.3 trillion stimulus

10 Fastest growing sectors in Nigerian economy based on GDP as of Q3 2024

November 26, 2024

To compete globally across a range of strategic sectors, the CBN Governor urge all stakeholders to support the Federal Government in these eight areas:

Quality infrastructure
As far as he is concerned, building a base of high-quality infrastructure is of the essence of any economy that desires to grow and be independent. According to him, such qualitative infrastructure is not complete without reliable power, as that is the only way to engender industrial activity.

Support for farmers
Emefiele added that if operators in the agriculture sector lack adequate support, the nation would still be far from its inclusive goal. He said, “We need to make adequate support for both smallholder and large scale agriculture production in select staple and cash crops.”

Ecosystem of factories
Importance of an ecosystem of factories and supply chains is also key to the plans of the CBN governor. According to him, it would be strategic for the nation to create an ecosystem of factories, storages and logistics companies that move raw materials to factories and finished goods to markets.

Robust educational system
No doubt, the nation needs new structures that better reflect the diverse learning requirements of Nigerian students. He said, “We need to Use our fiscal priorities to create a robust educational system that enables critical thinking and creativity, which would better prepare our children for the world of tomorrow.”

Developed Healthcare system
Health translates to wealth, so a nation that desires to be wealth must ensure its citizens are healthy. Emefiele too understands this fact, when he said in the document that it is important for Nigeria to develop a healthcare system that is trusted to keep all Nigerians healthy, irrespective of their social classes.

Affordable credit for SMEs
SMEs are the engine of every economy and their access to affordable credit determines their success. “We must facilitate access to cheap and long-term credit for SMEs and large corporates,” he added.

Pro-poor policies
Critics have argued over time that several policies in Nigeria are anti-poor. To address this, Emefiele emphasized on developing and strengthen pro-poor policies that bring financial services and security to the poor and the vulnerable.

Global competition
To expedite favourable global competition for Nigerian businesses, the CBN governor called for the development of venture capitalists for nurturing new ideas and engendering local businesses.

In all, Nigeria can take some lessons from India, which recently banned exports.
“Why should this be out of our reach? We have the companies too; we have the manpower and some of the best brains in the world from America to Europe and from Asia to Africa are Nigerians; driving global innovations in all fields.
“But now is the time to seize this opportunity and create an environment that empowers our people to thrive within our own shores.”

Read the full document here


Follow us for Breaking News and Market Intelligence.
Tags: CBN's economic reportCentral Bank of Nigeria CBNCoronavirus outbreakCOVID-19 PandemicGovernor Godwin EmefieleNigerian Business NewsNigerian Economy
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

Related Posts

“Nigerian stock market is not a reflection of the economy”– Egie Akpata 
Economy

“Nigerian stock market is not a reflection of the economy”– Egie Akpata 

November 30, 2024
FDI, foreign direct investment, Covid-19: Nigerian government explains how it will fund proposed N2.3 trillion stimulus
Economy

10 Fastest growing sectors in Nigerian economy based on GDP as of Q3 2024

November 26, 2024
Bitcoin, Silver
Cryptos

Bitcoin market value now nearly 10x the size of Nigerian economy  

November 22, 2024
Tinubu sacks five ministers, appoints seven new ones amid cabinet reshuffle  
Op-Eds

Management of the Nigerian economy: Staying the course but pausing to reflect

October 31, 2024
food insecurity
Economy

10 most expensive staple foods to buy in Nigeria in July 2024 

August 31, 2024
AfriGO announces a groundbreaking “First” – Upgraded AfriGO settlement process for instant credit to POS Merchants
Economy

Key sectors driving Nigeria’s economic growth since Tinubu became President 

August 27, 2024
Next Post
Caverton Helicopters, Caverton appoints new CFO, as Mrs Titilola Adigun resigns

Caverton Helicopters Ltd explains incidents that led to shutdown of its Rivers’ offices

Leave a Reply Cancel reply

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

Emple
nlng
first bank








DUNS

Recent News

  • 10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 
  • Geregu Power reports N13 billion Q2 2025 profit, up 61% YoY, beats Q2 forecast 
  • HealthCap Africa launches HealthTech Unicorns Report 2.0 in Lagos, charts bold future for Africa’s health innovation

Follow us on social media:

Recent News

10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

July 12, 2025
Geregu Power PLC wins “Most Compliant Listed Company” at 2024 Made of Africa Awards  

Geregu Power reports N13 billion Q2 2025 profit, up 61% YoY, beats Q2 forecast 

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics