Ogbeh links SAP to economic, agric woes

Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has said the Structural Adjustment Programme (SAP) of erstwhile military President Ibrahim Babangida was the genesis of the nation’s economic woes, high interest rates, hyper-inflation and uncompetitive agriculture.

He spoke in Abuja while commending the Central Bank of Nigeria (CBN) and the Bankers’ Committee on the new policy of nine per cent interest rate for the agriculture and manufacturing sectors.

The new regime, according to him, would create jobs for the teeming youths, generate wealth and stimulate the economy.The minister described the new monetary policy as a commendable attempt to correct the damage that the SAP had done to the economy.
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