Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has told Nigerians to brace up for tougher times even as the Senate has confirmed his appointment for the second time as the head of the country’s apex banking institution.
He also decried the high level of disregard and disrespect of policies and laws of the country, Nigeria’s rapid population, saying that the road to the country’s full economic recovery is still tough and rough.
Emefiele who appeared before the Senate Committee on Banking, Insurance and other Financial Institutions for screening for reappointment as CBN governor for another five year term, said the country must take steps to put in place policies that will stem rapid population growth.
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“We just came back from the IMF/World Bank programme in April. And in the World Bank’s/IMF’s World Economic Outlook, Nigeria is positioned as a country whose population will grow and rise to over 425 million people by the year 2050.
“That will present Nigeria as a country with the third largest population in the world after China and India and indeed surpassing the United States of America in population.
“I worry and I do think that we all should worry that a lot of work needs to be done to make sure that we are able to put in place policies that will make life good for this 425 million people when we are the third largest population in the world,” Emefiele said.