Governor of the Central Bank of Nigeria, Godwin Emefiele has urged Nigerians to brace up for the current economic realities as government would be forced to adopt some hard economic policies in line with the harsh economic environment as a result of low oil prices in the international market.
The CBN boss stated this yesterday during a press briefing at the bi-monthly Monetary Policy, MPC meeting in Abuja.
According to him, “It is imperative to brace up for a longer period of low government revenues from oil sources, which would necessitate hard and uncomfortable choices as the economy transits to more sustainable sources of revenue, consistent with the economic realities and strategic objectives of the country. In the circumstance, certain tradeoffs must be envisaged and duly accommodated.
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