Edun, Cardoso: Inflation Rate Will Comedown To Single Digit Despite Headwinds

Nigeria will achieve a single digit inflation rate despite economic headwinds triggered by the Middle East crisis and other global economic challenges, Minister of Finance and Coordinating Minister for the Economy, Wale Edun and Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso, said yesterday.

They spoke during a joint press briefing at the end of the World Bank/IMF spring Meetings in Washington DC.

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Cardoso, said despite marginal rise in inflation rate to 15.38 per cent in March from 15.06 per cent in February due to Middle East crisis, “we are not relenting on continuing to build resilience and also to stay the course with respect to something we have constantly been talking about, and that is bringing down inflation to single digits. In spite of all that is going on, we will stay that course,” he said.

For Edun, the biggest enemy of growth, the biggest enemy of the common man, is inflation. He stated that Nigeria’s economy is strong enough to withstand shocks and will continue to thrive.

Edun said Nigeria came to the meeting with a clear message. We are resilient to global shocks.Continue Your, Reading. .