The Centre for the Promotion of Private Enterprise (CPPE) on Thursday advised that the deployment of monetary tightening tools should be put on pause by the Central Bank of Nigeria (CBN).
A statement signed by Muda Yusuf, director of CPPE, noted that the Nigerian economy is not a credit driven economy which is why the tightening outcomes have been inconsequential as a tool to tame inflation.
Nigeria’s inflation rate rose for the 10th consecutive month in November to 21.47 per cent from 21.09 per cent recorded a month earlier amid a continuing increase in food and energy prices, according to the National Bureau of Statistics.
