MPC: your decision should propel sustainable growth of GDP –expert

Mr Godwin Eohoi, the Registrar,  Institute of Finance and Control of Nigeria has advised the Monetary Policy Committee (MPC) to ensure its decision will propel sustainable growth of Nigeria’s Gross Domestic Product (GDP).

Eohoi gave the advice while speaking with the News Agency of Nigeria (NAN) on Monday in Abuja ahead of MPC meeting scheduled to hold on Tuesday and Wednesday.

The National Bureau of Statistics’ (NBS) report, showed that GDP grew by 2.28 per cent (year-on-year) in real termsin the third quarter of 2019.

The financial expert said that with this development, he expected the committee to be firm in what would make the country sustain or improve its current GDP.

He said the partial border closure by the Federal Government must have contributed to this significant increase in the GDP.

Eohoi said he was not surprised because if there was increase in domestic production as a result of high demand, it would boost GDP.

According to him, lending rate should remain as it is and the committee should continue to observe the inflation rate.

Eohoi added that inflation should be a determinant whether there was the need to review it or not. 

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