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The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has stated that Nigeria’s economy is on a recovery path, crediting the progress to strategic government policies.

Speaking with The Nation, ASSBIFI President Olusoji Oluwole highlighted signs of gradual economic stabilisation.

“To be candid, it has not been easy in the last year. The level of inflation, which led to job losses, was very high, and there was confusion everywhere. However, recent happenings show that the economy is picking up,” he said.

For instance, the operations of Dangote Refinery, as well as the Port Harcourt and Warri refineries, are a plus for the economy. The naira also seems to have stabilised,” he said.

Oluwole described the ongoing recapitalisation of banks as a positive development for economic growth, noting that many banks have successfully completed the first phase and others are expected to meet the requirements.

https://thenationonlineng.net/nigerias-economy-on-recovery-path-says-assbifi/