{"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":"

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
\nuncomfortable choices. .<\/p>\n

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

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

\"image\"<\/a><\/p>\n

<\/p>","protected":false},"excerpt":{"rendered":"

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><\/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,"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3059","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t