{"id":444593,"date":"2011-06-20T20:23:20","date_gmt":"2011-06-20T20:23:20","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/20\/2011-budget-benchmark-of-75-unrealistic-%e2%80%93-sanusi\/"},"modified":"2011-06-20T20:23:20","modified_gmt":"2011-06-20T20:23:20","slug":"2011-budget-benchmark-of-75-unrealistic-sanusi","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/20\/2011-budget-benchmark-of-75-unrealistic-sanusi\/","title":{"rendered":"2011 budget benchmark of $75 unrealistic \u2013 Sanusi"},"content":{"rendered":"
\n

LAGOS \u2014 THE Central Bank of Nigeria, CBN, Governor, Mallam Sanusi Lamido Sanusi, Wednesday\u00a0 in Dakar, Senegal said the Federal Government\u2019s budget of N4.485 trillion recently passed was based on an unrealistic benchmark for oil at $75 a barrel, and can cause increase in the prices of goods and services.<\/p>\n

Sanusi spoke in Senegal while attending an Islamic finance forum in the country\u2019s capital.
He said: \u201cThat benchmark clearly does not portend very good signals for money supply. It looks like we are going to have pressure from the money supply side.\u201d<\/p>\n

He expressed fears that the CBN would not meet its single digit inflation target.<\/p>\n

\"\"<\/p>\n

Sanusi Lamido Sanusi<\/p>\n<\/div>\n

Sanusi said inflation risks in Nigeria remained high and that there was no choice but to focus on tightening monetary policy. He said high food and fuel prices, coupled with high government recurrent spending, meant overall inflation would be a concern in the near-term. \u201cI think that the indications are that \u2026 we have to look at the money supply situation very closely,\u201d he said<\/p>\n

He said the CBN plans to issue its first sovereign sukuk within the next 18 months in a move aimed at boosting Islamic banking in the country.<\/p>\n

According to him, \u201cwe are working with the Debt Management Office, DMO. The CBN is collaborating with them on capacity building. We do have a target of issuing a first sovereign sukuk in Nigeria within 18 months.\u201dHe declined to say how much will be issued.<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

The rest is here:
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LAGOS \u2014 THE Central Bank of Nigeria, CBN, Governor, Mallam Sanusi Lamido Sanusi, Wednesday\u00a0 in Dakar, Senegal said the Federal Government\u2019s budget of N4.485 trillion recently passed was based on an unrealistic benchmark for oil at $75 a barrel, and can cause increase in the prices of goods and services. Sanusi spoke in Senegal while attending an Islamic finance forum in the country\u2019s capital<\/p>\n","protected":false},"author":0,"featured_media":444594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-444593","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entertainment"},"yoast_head":"\n2011 budget benchmark of $75 unrealistic \u2013 Sanusi - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/06\/20\/2011-budget-benchmark-of-75-unrealistic-sanusi\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"2011 budget benchmark of $75 unrealistic \u2013 Sanusi - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"LAGOS \u2014 THE Central Bank of Nigeria, CBN, Governor, Mallam Sanusi Lamido Sanusi, Wednesday\u00a0 in Dakar, Senegal said the Federal Government\u2019s budget of N4.485 trillion recently passed was based on an unrealistic benchmark for oil at $75 a barrel, and can cause increase in the prices of goods and services. 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