{"id":3059,"date":"2016-01-27T10:47:43","date_gmt":"2016-01-27T09:47:43","guid":{"rendered":"http:\/\/www.faithirabor.com\/?p=3059"},"modified":"2016-01-27T10:47:43","modified_gmt":"2016-01-27T09:47:43","slug":"prepare-for-hard-times-cbn-warns-nigerians","status":"publish","type":"post","link":"https:\/\/www.faithirabor.com\/?p=3059","title":{"rendered":"\u201cPrepare for hard times,\u201d CBN warns Nigerians"},"content":{"rendered":"<p>Yesterday, the Monetary Policy Committee of the Central Bank of Nigeria warned Nigerians to brace for a longer period of low revenue from oil sources, which would necessitate hard and\u00a0<br \/>\nuncomfortable choices. .<\/p>\n<p>The committee, in a communiqu\u00e9, observed that while the period of low oil prices, which occurred in 2005, lasted for a maximum of 8 months, the current situation is expected to continue over a longer period of time. Crude oil prices had declined from a peak of $114 barrel in July 2014 to $30.25 per barrel yesterday.<\/p>\n<p>The CBN Governor. Godwin Emefiele, who read out the communiqu\u00e9, said the development would necessitate huge sacrifices from Nigerians. He added that since oil prices had been on a steady decline, certain trade-offs would have to be envisaged and accommodated.<\/p>\n<p><a href=\"http:\/\/www.faithirabor.com\/wp-content\/uploads\/2016\/01\/20160127-083124.jpg\"><img decoding=\"async\" title=\"20160127-083124.jpg\" class=\"alignnone size-full\"  alt=\"image\" src=\"http:\/\/www.faithirabor.com\/wp-content\/uploads\/2016\/01\/20160127-083124.jpg\" \/><\/a><\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>Yesterday, the Monetary Policy Committee of the Central Bank of Nigeria warned Nigerians to brace for a longer period of low revenue from oil sources, which would necessitate hard and\u00a0 uncomfortable choices. . The committee, <a class=\"mh-excerpt-more\" href=\"https:\/\/www.faithirabor.com\/?p=3059\" title=\"\u201cPrepare for hard times,\u201d CBN warns Nigerians\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3059","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=\/wp\/v2\/posts\/3059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3059"}],"version-history":[{"count":1,"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=\/wp\/v2\/posts\/3059\/revisions"}],"predecessor-version":[{"id":3060,"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=\/wp\/v2\/posts\/3059\/revisions\/3060"}],"wp:attachment":[{"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faithirabor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}