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Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others ~ OsazuwaAkonedo #cbn

Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others

Posted on November 25, 2020January 15, 2021 By OsazuwaAkonedo No Comments on Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others
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The Central Bank of Nigeria has called on all employers of labour to help curtail the current economic woes in the country by creating jobs for the teaming youths among others.

The Central Bank of Nigeria, CBN stated this yesterday in a communique issued and announced by the CBN Governor, Godwin Emefiele at the end of the two days meeting held on Monday/Tuesday by the Monetary Policy Committee, MPC in Abuja.

MPC is CBN highest policy making body comprising of five CBN staff, five professors from selected Nigerian universities and the permanent secretary, Federal Ministry of Finance; mandated by law to meet every quarter to review economic situation in the country.

Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others ~ OsazuwaAkonedo #cbn

CBN noted that the current insecurity in the country especially youth restiveness occasioned by the #Endsars protest can further weaken the country’s economy and erase the chances of taking Nigeria out of recession by the end of December, 2020.

The meeting attended by ten members of the MPC including the CBN Governor, Godwin Emefiele observed that despite the corona virus pandemic, the United States of America continued to create employment for its residents for the development of its economy.

Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others ~ OsazuwaAkonedo #cbn

“The US economy has, however,
maintained a steady pace of job creation, even though infection
rates and total fatality continue to rise in that country”, CBN stated in the communique.

CBN however noted that in Nigeria, weakness in crude oil prices, soaring global debt and high unemployment persist.

“In the domestic environment, the Nigerian economy slid into recession in the third quarter of 2020, following a second consecutive quarter of contraction in output.

Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others ~ OsazuwaAkonedo #cbn

“The third quarter contraction was, however, milder than the previous
quarter. The Committee appraised the developments in both the
global and domestic economies, as well as the outlook for the rest
of the year and the first quarter of 2021.

“The global economy witnessed a better-than-expected recovery in the second quarter of 2020”, said CBN

Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others ~ OsazuwaAkonedo #cbn

While in Nigeria, “Data from the National Bureau of Statistics (NBS) showed that real Gross Domestic Product (GDP) contracted by -3.62 per cent in Q3 2020, compared with -6.10 and 2.28 per cent in the previous quarter and corresponding period of 2019, respectively, thereby pushing
the economy into recession.

“The oil sector contracted further by –
13.89 per cent in Q3 2020 from -6.63 per cent in the previous quarter,
while the non-oil sector contracted by -2.51 per cent in Q3 2020, compared with -6.05 per cent in the preceding quarter.

“The persisting weak performance was mainly attributed to the lull in
economic activities associated with the low price in the oil market
as well as the lingering effects of the Coronavirus Pandemic.

“The Committee, however, noted the likely downside risk [due] to growth of the recent unrest in the country, warning that this may adversely impact economic recovery in the near term.

“The Committee noted with concern that inflation has been on the rise for the fourteenth consecutive month, as headline inflation (year-on-year) moved up to 14.23 per cent in October 2020 from 13.71 per cent in September 2020.

Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others ~ OsazuwaAkonedo #cbn

“This was attributed to the increase in both food and core inflation, which rose to 17.38 and 11.14 per cent in October 2020 from 16.66 and 10.58 per cent in September 2020, respectively.

“The continued increase in food and
core inflation was attributed to the persistence of insecurity across the country as well as lingering structural deficiencies impacting the logistics of moving food items to urban areas such as poor road networks, unstable power supply and a host of other infrastructural deficiencies.

“Other factors include the persisting impact of coronavirus-induced supply disruptions, recent hikes in the price of energy products (PMS and electricity) and weak crude oil prices.

Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others ~ OsazuwaAkonedo #cbn

“The MPC, therefore, emphasized the need to address structural supply side
issues putting upward pressure on costs of production and unemployment.

“It thus, urged the Federal Government to maintain its initiatives targeted at reducing
unemployment, particularly amongst the youths, citing the recent EndSARS protests and ensuing agitation by hoodlums as potentially disruptive to output growth in Nigeria.

“To this end, the MPC reiterated its support for the various development finance initiatives of the CBN to stimulate production and reduce unemployment.

Reduce UNEMPLOYMENT, To Push Nigeria Out Of Recession, CBN Begs FG, States, Others ~ OsazuwaAkonedo #cbn

“MPC further encouraged the Bank to intensify its efforts by increasing funding to more beneficiaries so as to boost consumer spending and accelerate recovery from recession”.

The MPC urged the bank to ensure “continued credit support to employment-stimulating sectors to hasten the recovery of output growth and improve employment particularly among the youths.

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ENTERTAINMENT

We Can't Wait For DPP, Police Speaks As Lagos Govt Delays Seun Kuti's Trial ~ OsazuwaAkonedo #Seun #Anikulapo #Babajide #Cyril #DPP #Ejiofor #Falana #Fela #Femi #Kuti #Lagos #Olu #Police #Sanwo We Can’t Wait For DPP, Police Speaks As Lagos Govt Delays Seun Kuti’s Trial May 24, 2023 9:02pm
Family Jubilates As Seun Kuti Leaves Police Custody ~ OsazuwaAkonedo #Seun #Anikulapo #Fela #Kuti #SCIID Family Jubilates As Seun Kuti Leaves Police Custody May 24, 2023 10:27am
Fela Son, Seun Kuti Now Leads Prayers Inside Police Custody, Pays ₦25k To Avoid Drilling ~ OsazuwaAkonedo #Seun #Anikulapo #custody, #drilling #entertainment #Fela #Kuti #Panti #prayers #SCIID #security Fela Son, Seun Kuti Now Leads Prayers Inside Police Custody, Pays ₦25k To Avoid Drilling May 20, 2023 7:06pm
Hilda Baci 4 Days Nonstop Cooking World Record Shows: Nigerian Resilient Spirit - Obi, Nigerian Can-Do Attitude - Tinubu, Uniqueness In Nigerian Food - Buhari ~ OsazuwaAkonedo #Ahmed #attitude #Baci #Bassey #Bola #breaking #Buhari #cooking #Effiong #entertainment #Guinness #Hilda #Indian #job #Lata #Muhammadu #Nigerian #nonstop #Obi #Peter Hilda Baci 4 Days Nonstop Cooking World Record Shows: Nigerian Resilient Spirit – Obi, Nigerian Can-Do Attitude – Tinubu, Uniqueness In Nigerian Food – Buhari May 15, 2023 5:21pm
Fela Son, Seun Kuti Now In Our Custody - Police ~ OsazuwaAkonedo #Seun #breaking #custody, #entertainment #Falana #Fela #job #Kuti #Nigeria #Police #security Fela Son, Seun Kuti Now In Our Custody – Police May 15, 2023 12:23pm
Seun Kuti: A 'Mad' Son From A 'Mad' Marriage - Charles Awuzie ~ OsazuwaAkonedo #Seun #‘mad’ #Awuzie #Charles #entertainment #Fela #Igp #job #Kuti #Marriage #Nigeria #Police #security Seun Kuti: A ‘Mad’ Son From A ‘Mad’ Marriage – Charles Awuzie May 14, 2023 3:25pm
My Wife Deserves Everything On Earth - David Ugolor ~ OsazuwaAkonedo #ANEEJ #columns #David #deserves #entertainment #everything #job #Ngozi #Ugolor My Wife Deserves Everything On Earth – David Ugolor May 14, 2023 9:14am
Mercy Johnson Loses Dad ~ OsazuwaAkonedo #Ametuo #breaking #Daniel #entertainment #Johnson #Mercy #Nollywood #Okojie Mercy Johnson Loses Dad May 5, 2023 2:51pm

LIFE

Onitsha-Owerri Federal Road Now Deathtrap In Oba ~ OsazuwaAkonedo #Abia #AkwaIbom #Anambra #Benin #Bola #Charles #CrossRivers #Deathtrap #Enugu #Erosion #FG #Gully #Imo #Lagos #oba #Onitsha #Owerri #PortHarcourt #Rivers #Soludo Onitsha-Owerri Federal Road Now Deathtrap In Oba August 6, 2023 4:04pm
Death Toll Rises More Than 288 In Indian Train Multiple Collision ~ OsazuwaAkonedo #Balasore #Indian #Odisha #Train Death Toll Rises More Than 288 In Indian Train Multiple Collision June 3, 2023 1:47pm
Unknown Gunmen: How Access Bank Chief Security Officer Saves Customers, Other Staff Lives In Ihiala ~ OsazuwaAkonedo #Access #Bank #breaking #customers, #Gunmen #Ihiala #Nigeria #Officer #Okija #security #Sit-at-home #Unknown Unknown Gunmen: How Access Bank Chief Security Officer Saves Customers, Other Staff Lives In Ihiala May 11, 2023 2:05am
Zelenskyy To Putin: We Are Actively Preparing For New Events In May, June ~ OsazuwaAkonedo #actively #Bakhmut #preparing #Prigozhin #Putin #Russia #Ukraine #Vladimir #Volodymyr #Wagner #Yevgeny #Zelenskyy Zelenskyy To Putin: We Are Actively Preparing For New Events In May, June May 7, 2023 11:39pm
EFCC Office In Enugu On Fire ~ OsazuwaAkonedo #EFCC #Enugu #Fire EFCC Office In Enugu On Fire May 6, 2023 6:55am
"I Don't Need Anything From Bad People" Victim Speaks As UK Court Sentences Ekweremadu, Wife, Doctor To 9, 4, 10 Years Imprisonment ~ OsazuwaAkonedo #“i #Abuja #anything #breaking #David #don’t #Ekweremadu #Enugu #imprisonment #justice #Lagos #London #Medical #Nigeria #Nigerian #Nwamini #people” #Police #sentences #UK “I Don’t Need Anything From Bad People” Victim Speaks As UK Court Sentences Ekweremadu, Wife, Doctor To 9, 4, 10 Years Imprisonment May 5, 2023 5:12pm
Ukraine Drills For Offensive Actions Against Russia As Zelensky Honours 750 More Fighters ~ OsazuwaAkonedo #actions #against #fighters #Honours #Kyiv #offensive #Putin #Russia #security #Ukraine #Vladimir #Volodymyr #Zelensky Ukraine Drills For Offensive Actions Against Russia As Zelensky Honours 750 More Fighters April 29, 2023 9:04pm
Sudan War: Why Nigerian Students Abandoned In Desert Couldn't Enter Egypt - FG ~ OsazuwaAkonedo #abandoned #Aswan #couldn’t #Egypt #FG #job #Khartoum #Nigerian #security #students #Sudan #war Sudan War: Why Nigerian Students Abandoned In Desert Couldn’t Enter Egypt – FG April 29, 2023 5:52am

EDITORIAL

We Are Set ~ OsazuwaAkonedo #Ezoic #WordPress We Are Set August 3, 2023 6:46am
Fuel Subsidy Removal: Where I Stand, Tinubu Speaks With Indication FG Shifts To Loan Elite Companies ~ OsazuwaAkonedo #Bola #Fuel #Loans #Subsidy #Tinubu Fuel Subsidy Removal: Where I Stand, Tinubu Speaks With Indication FG Shifts To Loan Elite Companies July 31, 2023 11:41pm
If you Can't Vote, Convince One Person To Vote Your Candidate Now ~ OsazuwaAkonedo ##LP ##Obidients #2023Election #Abubakar #Ahmed #APC #Atiku #Atikulates #Bola #breaking #can’t #candidate #columns #convince #economy #editorial #Education #entertainment #Jagaban #newspapers If you Can’t Vote, Convince One Person To Vote Your Candidate Now February 24, 2023 3:25pm
May The Souls Of Our Brothers, Sisters Who Couldn't Make It To 2023 Rest In Peace - Buhari ~ OsazuwaAkonedo ##Boko #2022 #2023Election #army #bandits #Buhari #EndSARS #Gunmen #Haram #iswap #Kuje #Muhammadu #Police #terrorists #Unknown May The Souls Of Our Brothers, Sisters Who Couldn’t Make It To 2023 Rest In Peace – Buhari January 1, 2023 10:05am
Judge Asking Okupe To Pay Fine For Collecting Physical Cash On Security Assignment Maybe Unprofessional, Embargo To National Security ~ OsazuwaAkonedo ##LP ##Obidients #Buhari #Dasuki #Doyin #Ebele #EFCC #FG #Goodluck #Ijeoma #Jonathan #Muhammadu #NTA #Obi #Ojukwu #Okupe #Omokri #ONSA #PDP #Peter Judge Asking Okupe To Pay Fine For Collecting Physical Cash On Security Assignment Maybe Unprofessional, Embargo To National Security December 20, 2022 5:59am
I'm Not Extension Of Anybody, Peter Obi Is The Best Candidate For Nigeria - Soludo's Son Ozonna ~ OsazuwaAkonedo ##LP #Ozonna #2023Election #Anambra #APGA #Charles #Obi #Peter #Soludo I’m Not Extension Of Anybody, Peter Obi Is The Best Candidate For Nigeria – Soludo’s Son Ozonna November 15, 2022 4:07pm
IGP, Others Hold Night Ceremony At Airport To Welcome Buhari ~ OsazuwaAkonedo ##LP #Alkali #APC #Baba #Buhari #Igp #London #Muhammadu #PDP #security #Usman IGP, Others Hold Night Ceremony At Airport To Welcome Buhari November 14, 2022 6:28am
Elon Musk Give Reasons Over Twitter Workers Sacked ~ OsazuwaAkonedo #election #media #twitter #workers #Elon #Musk Elon Musk Give Reasons Over Twitter Workers Sacked November 5, 2022 3:27pm

TRENDING

Traditional Rulers' Silence, No Longer Golden ~ OsazuwaAkonedo #Bill #FG #Fulani #government #herdsmen #Law #Malcolm #Nigeria #North #Omirhobo #Resources #Water Traditional Rulers’ Silence, No Longer Golden September 3, 2022 12:25pm
CP Vows To Arrests Adamawa Residents Behind Attacks On INEC Officials ~ OsazuwaAkonedo #Adamawa #APC #Ari #arrests, #attacks #Hudu #INEC #Nigeria #officials #PDP #Police #Residents #security #Yunusa CP Vows To Arrests Adamawa Residents Behind Attacks On INEC Officials April 17, 2023 8:40pm
DSS, Prison Operatives In Free For All Fight Over Godwin Emefiele's Custody ~ OsazuwaAkonedo #Bola #cbn #Dss #Emefiele #Godwin #NCS #Tinubu DSS, Prison Operatives In Free For All Fight Over Godwin Emefiele’s Custody July 25, 2023 4:04pm
Flood: We Shall Come Out Stronger - Peter Obi ~ OsazuwaAkonedo #Anambra #lives #Nasarawa #Nigeria #Peter #Boat #Flood #Mishap #Obi #Obidients Flood: We Shall Come Out Stronger – Peter Obi October 9, 2022 12:46pm

MONTH

Test ~ OsazuwaAkonedo Test September 16, 2023 8:35am
Police Rescues Kidnapped Victim In Anambra ~ OsazuwaAkonedo #Anambra #Kidnapping #Onitsha #Police Police Rescues Kidnapped Victim In Anambra September 2, 2023 8:19pm
Army Raid Plateau, Bauchi, Kaduna For Mass Arrests, Kill 6 Suspects ~ OsazuwaAkonedo #army #bandits #Bauchi #Kaduna #Kidnappers #Plateau Army Raid Plateau, Bauchi, Kaduna For Mass Arrests, Kill 6 Suspects September 4, 2023 10:12pm
Morocco Confirms 2497 People Killed In Friday Night Earthquake ~ OsazuwaAkonedo #AlHaouz #Casablanca #Marrakech #earthquake #Morocco Morocco Confirms 2497 People Killed In Friday Night Earthquake September 11, 2023 1:39pm

WEEK

Troops Discover Gun Manufacturing Factory In Kaduna ~ OsazuwaAkonedo #army #Kaduna #Kafanchan #OPSH Troops Discover Gun Manufacturing Factory In Kaduna September 24, 2023 7:03pm
NAF Claims It Airstrikes Unknown Gunmen Hideouts In Nnewi, Okigwe ~ OsazuwaAkonedo #Anambra #ESN #Gunmen #Imo #ipob #NAF #Nnewi #Okigwe #Orsumughu #Unknown NAF Claims It Airstrikes Unknown Gunmen Hideouts In Nnewi, Okigwe September 28, 2023 3:37am

DAY

NAF Claims It Airstrikes Unknown Gunmen Hideouts In Nnewi, Okigwe ~ OsazuwaAkonedo #Anambra #ESN #Gunmen #Imo #ipob #NAF #Nnewi #Okigwe #Orsumughu #Unknown NAF Claims It Airstrikes Unknown Gunmen Hideouts In Nnewi, Okigwe September 28, 2023 3:37am

NOW

NAF Claims It Airstrikes Unknown Gunmen Hideouts In Nnewi, Okigwe ~ OsazuwaAkonedo #Anambra #ESN #Gunmen #Imo #ipob #NAF #Nnewi #Okigwe #Orsumughu #Unknown NAF Claims It Airstrikes Unknown Gunmen Hideouts In Nnewi, Okigwe September 28, 2023 3:37am
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Economy

  • [Video]Police Parade Items Recovered From Yoruba Nation Protesters

    July 4, 2021

  • El-Rufai In State Wide Broadcast Insists To Sack More Kaduna Workers, Describes Ayuba Waba, NLC Action Lawless, Blames Police #OsazuwaAkonedo

    May 21, 2021

  • Yahoo Boys Now Going Spiritual, We Are Coming For You – EFCC

    February 10, 2022

  • Nigerians React Over Former Aviation Minister Femi Fani-Kayode’s Comment On Air Peace Boss Allen Onyema In Hushpuppi Allegation Linking DCP Abba Kayri

    July 31, 2021

  • Don’t Marry Ladies From Poor Home Who live Expensive, Lavish Lifestyle With No Source Of Income Except Your Grave Is Near___Reno Omokri #OsazuwaAkonedo

    February 23, 2021

Entertainment

  • No Peace For Any Trouble Maker This Yuletide, says CP As Army Begins Offensive Operations In Edo

    November 21, 2020

  • Under Buhari, Every Naira Is Better Managed Than Previous Administrations – Tinubu

    June 8, 2022

  • We Have Killed More Than 4,500 Russian Soldiers, Zelensky Orders Invading Troops To Surrender

    February 28, 2022

  • [VIDEO] Adulterous Sex Scandal: I Was Very Careless__Apostle Suleiman

    January 28, 2021

  • Buhari To World Leaders: Fund Local Hospitals, Equipments, Other Health Materials, Africans In Disadvantage

    February 19, 2022

Security

  • Ex-Governor Obiano’s Wife Ebelechukwu, Bianca Ojukwu In Physical Combat At Soludo’s Swearing-in

    March 17, 2022

  • Buhari Signs N13.588 Trillion 2021 Budget Into Law

    December 31, 2020

  • [Video] Davido Looks Over Excited To Be With Drake #OsazuwaAkonedo

    March 13, 2021

  • [Video] Imo Jail Break: Why I Don’t Want To See Anybody In Prison___Nnamdi Kanu #OsazuwaAkonedo

    April 5, 2021

  • Your Smile Lights Up The World, Happy Val – Obama Goes Romantic With Wife Michelle

    February 14, 2022

Politics

  • Gada: Terror Bandits Will Not Go Unpunished, Governor Matawalle Reacts To Wednesday Killings In Zamfara

    December 29, 2021

  • [VIDEO] Ahmed Gulak: I’m A Bus Driver, Unknown Gunmen Threatened To Kill Me If I Didn’t Drive Them – Suspect

    June 28, 2022

  • 66,224 Ukrainian Men Return Home, Battle Russian Soldiers – Defense Minister

    March 5, 2022

  • Apostle Johnson Suleman Omega Fire Ministry Senior Pastor, Azemhe Azena Goes Back To School As Undergraduate

    September 9, 2021

  • Managing Recovered Looted Assets: ANEEJ, Others Meet In Egypt

    December 12, 2021

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