Worried by the rising unemployment, increasing poverty incidence and income inequality in Nigeria, an economist from the University of Ibadan, Dr. Musibau Adetunji Babatunde has tasked the Central Bank of Nigeria (CBN) to, as a matter of urgency, “reduce the Monetary Policy Rate and the Cash Reserve Ratio in order to contribute, or at least not complicate, enhancing inclusive growth in the country.”
Making the call in the Oyo State capital on Tuesday while delivering the monthly research lecture series of the Nigeria Institute of Social and Economic Research (NISER) entitled “Monetary Policy Thrust for Inclusive Growth in Nigeria”, Dr. Babatunde of the Department of Economics, University of Ibadan also emphasized “the need for the CBN to encourage the Development Monetary Banks and other financial sector institutions to rationalize costs by reviewing the emoluments and other entitlements of the upper echelons of the industry to reflect the current realities.”
