CBN monetary tightening worsening Nigeria’s N50tn development finance gap – CPPE

The Centre for the Promotion of Private Enterprise, CPPE, has said the Central Bank of Nigeria, CBN, prolonged monetary policy tightening has worsened the country’s development finance gap, which it estimates at over N50 trillion.
The Chief Executive Officer of CPPE, Muda Yusuf, disclosed this in a statement issued at the weekend, warning that an overreliance on conventional monetary policy risks undermining investment and growth in key productive sectors.
According to the economic think tank, Nigeria cannot depend solely on commercial banks to finance industrialisation and agricultural transformation, given the country’s huge financing needs.
CPPE urged the CBN to rethink what it d...