For the last four years, Jonathan’s government has sustained Economic policies that had created a stable macroeconomic environment.
For the first time in ‘n’ years, our inflation rate dropped to Single digit. This was a feat previous Governments dreamt about but could never attain.
Until very recently; the exchange rate remained very stable, operating within a narrow band.
This made naira almost convertible and allowed Industrialists and importers plan inventory commitments with greater ease and less apprehension.
Even the Interest rates had been trending down and for once in a long time, Farmers and some industrialists were able to obtain credit at single digit interest rate or very low double digits.
This has happened, because Jonathan gave free hand to the Professionals in the Central Bank of Nigeria (CBN) and those in the Ministries of Finance, Trade and Industry, National Planning, etc to run with minimum interference.
Additionally, he involved the Private Sector in the Economic Management Team where they used real market experience to balance academic economic theories.
If this is not good economic management, please tell me what is. Some Presidents in some Countries have been voted out of office because they could not manage inflation!
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