The Guardian Nigeria News - Nigeria and World News guardian.ng 16 Jul, 2021 04:15 am

NECA projects tighter monetary options to curb inflation

NECA projects tighter monetary options to curb inflation
While the International Monetary Fund (IMF) had earlier predicted a 2.5 per cent growth and 16 per cent inflation rate by end of 2021

5 per cent growth and 16 per cent inflation rate by end of 2021, the Nigeria Employers’ Consultative Association (NECA) yesterday, projected a slow but positive growth closing at 2.At the 64th yearly general meeting of Nigeria Employers’ Consultative Association (NECA), its president, Taiwo Adeniyi, who highlighted some policy recommendations and future outlook in charting new economic directions for the country’s long-term growth, stated that more effort was needed as well as the greater political will to continue in the path of steady growth.He said government and relevant stakeholders must work together to address the constraints to value-chain development in high-growth and employment-elastic sectors such as manufacturing, construction, trade, health, professional services with Information Communication Technology (ICT) and renewable energy sectors as growth enablers.He said the government needed to create a conducive environment for businesses to thrive, adding that Nigeria was sitting on a time bomb, considering the high level of unemployed youths.

President of the Nigeria Labour Congress (NLC), Ayuba Wabba, stated that Nigeria lacked the competitiveness to excel, as it was not manufacturing at optimal capacity to create more jobs.On the Africa Continental Free Trade Agreement (AfCFTA), Wabba, stated that the rule of origin must be respected for Africa and indeed Nigeria not be turned into a dumping ground due to the large population and viability of the economy.

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