Godwin Emefiele, Central Bank Governor, has been conferred with a Honorary Doctorate Degree in Business Administration by the University of Nigeria, Nsukka (UNN).
Mr. Emefiele was honoured over the weekend at the Special Convocation of UNN, where fifty people were also conferred with Doctorate degrees in different fields of study.
At the special event, the CBN Governor delivered a lecture titled “From Recession to Growth: The Story of Nigeria’s Recovery from the 2016 Economic Recession”.
Emefiele spoke on the actions the CBN took to address the challenge, which included a combination of monetary and foreign exchange policies, as well as development finance interventions and bailout programs to states.
He said that due to its policies, Nigeria’s GDP had been steadily growing, inflation going down, the country’s foreign reserve growing and the foreign exchange market stable at N360 to USD1.00.
Emefiele said that because the GDP growth remained slow, the CBN would give support to domestic production of goods in the country which, according to him, was the way to improve economic growth.
“Addressing the constraints of farmers, SMEs and manufacturers will be critical, to drive sustainable growth of the Nigerian economy and reduce our reliance on proceeds from the sale of crude oil.
In addition, there is need to forge partnerships between universities, research institutions, the private sector and public sector institutions. This will aid in developing and implementing solutions that will support productivity in the agriculture and manufacturing sectors to build a sustainable productive base for the nation,” Emefiele stated.
The Vice Chancellor of the university, Prof. Benjamin Ozumba, had earlier called on philanthropists and alumni of the institution to join hands with the Federal Government in funding the school.