Economy
Economy on brighter rebound under Tinubu government
The economic reforms of President Bola Tinubu have received accolades across several strata. Now two years after the reforms, stakeholders are calling for its sustenance and remodification, where necessary. Wealth creation coach, entrepreneur and public analyst, Dr. Olumide Emmanuel, is satisfied that the present administration’s removal of subsidy, floating of the dollars and regularization; impressive stock market performance as well as increasing inflow of foreign direct investment and falling interest rates cum inflation, are glaring evidences that the economy is doing well. Dr. Emmanuel, who is also the Chief Executive , CommonSense Group, bared his mind in this no hold bar interview with select journalists. The Trust News was there. Excerpts:
How will you say Nigeria has fared at 65?
For many people, what they say is that if we have not received independence, if we had been under the British rule, would we have fared better? Did we get independence too early because they are now using some countries that got independence later on but seem to fare better off as measuring stick? It is as if you leave a child who is not matured to now begin to take care of himself. It’s like a father that was a rich man by the time he dies, the children were just teenagers, they were not matured enough to understand a lot of things. Unlike a man who is a billionaire and died when the children were already adults. So, there is an argument in that direction, maybe that we got independence too early. But we also have people who got independence the same time as we but have done amazingly well. That brings the aspect of the leadership question. We can give excuses up and down, but for me as an individual, I will say that in the last 65 years, we may not be where we were supposed to be but there are a lot of things to be thankful for.
Number one, we are thankful for life, and two, we are thankful that Nigeria still exists. You know a lot of people were young and do not understand the civil war, but for us, even now the trauma of the civil war is still around. A lot of countries did not go through the kind of things that Nigeria went through- all the coups and all kinds of things that have happened, the communal clashes and killings in the last 20 years of insurgency and we are still here. We should be thankful for the level of development we have had, even though it could have been better but we still should be thankful. We are in democracy; many people seem to have forgotten the military era. Those of us that grew up during the military era, we know the effect and up till now, part of the reason why the country is the way it is, is because the people that are adults that are actually supposed to right things are still affected by the military mindset. The young people don’t care, they can talk because they have never been controlled. For many people in our generation, when you want to talk, you remember the software that puts you in the bondage of military thinking. All in all, we could have done better but we are grateful for where we are.
So, how will you assess the economy in the last 65 years?
Economically, we have gone high, we have gone low, we have gone to the lowest low and I think, we are beginning to now climb out of the lowest low. So we are still low but we are coming out of the lowest low to come to low. Why? Because we look at 65/50 years ago before we discovered oil, we had our cash crops. We had the pyramids, cocoa and palm oil which were doing amazingly well. Our economy was topnotch because we were a productive economy. Then we discovered oil which brought in the curse of laziness, visionless-ness and planless-ness. And all the different things that we were doing that were producing for us were killed because we became a monolithic economy, focusing on oil, became lazy and complacent and today, we are seeing the result of that. Now we have realised by going to the lowest low that we need to be a productive country. And that’s why there is a lot going on now with reference to decentralising the issue of oil, going back to full scale agriculture. In the last few years and going forward, we are going to see a lot in the area of cash crops; people beginning to go into real full scale farming that would help us become productive so that we can have something to export. Then if you look at the economy, you will realise that in the last few years, the policy of the government has started producing results.
Now when you talk of policy producing results, until there is something that sets a man in the market place, he does not know that there is a change. Somebody said to me years ago, that all this one they are saying that inflation is going down, that he’s not seeing it. I said to him, let’s say a crate of egg has gone from N400 to almost N6,000, cement from N3,600 to almost N10,000. Now, when we say that inflation is going down, what we are saying is that the pace of increase has reduced. It is not that it will not increase. If every year, bread was increasing at the rate of N100 per year, if inflation reduces, it means that it will now go down from N100 to N50 or any amount lower than N100 per year; it doesn’t mean that you will not buy things expensively, but that the rate at which it is increasing will reduce. Little by little, it will now get to a better dimension. And that is what is happening. A lot of goods in the market have reduced, our stock market is big, doing well, and investor confidence is very high, foreign direct investment is very high, removal of subsidy has made money available to all the governors , now so many states have more money. People should start facing their governors now and find out what they are doing with the money. Even the macroeconomic policy is yielding positive results, the interest rate, and other things are beginning to go down. Our dollar to naira is now stable. All in all, we are beginning to look forward to things getting better.
You have always advocated a two year gestation period before assessing this government. Now, after two years, how would you assess the President Bola Tinubu’s government?
President Bola Tinubu is an individual, he is the president of the country and then as the president of the country, he is working with some group of people to steer the affairs of the country. They have set policies in place and some of the policies they have put in place have started producing results. Irrespective of who is in government, there are other issues that we now have to look into. We look at corruption, security and infrastructure. For me as an individually, I will say to you clearly, that the policy of President Tinubu administration based on removal of subsidy, floating of the dollars and regularization of other things have started producing results. That is very glaring for everyone to see except you don’t want to be truthful to yourself. That’s why I say, our stock market is doing amazingly well, foreign direct investment is doing amazingly well; there is now more money for governors to do projects; our currency is now stable, also remember the tax reform that will come in from January. The interest rate and inflation are going down. These are realities. So we can now plan. Those are the positive aspects.
The negative aspect is number one, waste, two corruption, three insecurity, four infrastructure deficit. In these areas, they have still not done well. For most people on the streets; as far as I am concerned, everything we are seeing out there indicate that some people are above the law. We have a lot of people still walking around that should be sent to jail. We have a lot of money stolen in billions. Two is the issue of security. Every week, you hear of people dying in different villages; that we are still not having light till now is unimaginable; the roads are bad, a lot is not happening in the area of infrastructure. And then waste, we are seeing a lot of it in many aspects. A lot of things we call waste in this country are constitutional because the law supports them. For a governor to collect money that he does not give account for is legal corruption. So we have seen where they have done well and where they have not done well.
The Monetary Policy Committee of the CBN has steadily cut down interest rate; how will this stimulate the economy?
Most of the time in an economy like Nigeria, where 75 per cent of the population are poor, many of these good news are indices. It is not any news to the poor man because he will not feel it. In any economy, when you are coming up with a policy, you must think of the effect of the policy and come up with palliatives and systems to cushion the effects of the policy on the vulnerable. We are talking about balancing life and livelihood. Most of the times, our policies are not thought through. The major thing that people kicked against was the way the President announced the subsidy removal. However, everybody from Atiku to Obi to Kwankwanso said they will remove subsidy. So the president did what was in the mind of everybody but the way he did it created the problem that now became too difficult to handle because if he had done it in a very strategic way, like maybe you came in May 29, between then and October 1st, you study and begin to tell everyone to prepare their minds. Then on October 1st you declare it. You would have blocked every block-able to know what to do.
A major crisis between Dangote Refinery and the unions reared its head recently. Thankfully, government was able to nip it in the bud before it became a major crisis. Do you think that giving Dangote Refinery a free hand will lead to monopoly as is being speculated in some quarters?
It is a disgrace that we are talking about Dangote having a monopoly when we have three or four refineries that were there before he came. So where is the monopoly? It is a useless discussion. If Port Harcourt, Kaduna and Warri refineries were working, will you say it’s a monopoly. It is because we are a bunch of unserious people that cannot manage our own that you now say that somebody that came to do his own is stopping you. Anybody making that kind of statement should feel stupid. If those three were working, Dangote would have been one among others.
Dangote is not the only one building refinery. There are three others by other people that will soon come up. When those three come up, will that argument come up? Do you know that there are modular refineries that can be done in one year? Do you know that there are boys in the creeks refining oil every day? Why are we deceiving ourselves with all these stories? If you say Dangote is a monopolist, how? Did he stop other ones from working? So it’s just an argument of lazy people. PENGASSAN, NUPENG should have a rethink. When in the next 15 and 20 years there is a change, who will they now go and fight? That is when they will realise they have been fighting the wrong battle. Fighting Dangote Refinery is not the right thing to do because you have refineries that would have been working. What even stops all of them (the Unions) from putting money together and building their own refinery in the country? Unionism is a global discussion and we don’t respect entrepreneurs in this country. We like talking because the emotion of poverty and the hatred for rich people is the software running many of these discussions. The reason why they are fighting Dangote is because they have somebody to fight. The day machine replaces them (workers), they would have to go and fight the machine. Is NITEL fighting, didn’t they go down? NITEL could not fight because technology came. We should be thinking of the future. All these things we are fighting are poverty fights. Technology and development is coming and you are fighting them all in the name of monopoly.
As a wealth creation coach, what is wealth and how can it be created?
For years, I have told people that if we look at wealth only from one angle, we will be making a major mistake. Wealth is holistic. Looking at it from a generic financial point which is cash based, wealth is assets-based. Any fool can be rich. Having money does not make you a wealthy man. You need to have assets that will continue to produce cash flow. Looking at wealth from the money aspect, that is, just one over eight from the equation of things because there are eight components to true wealth. They include: Health, when we say health is wealth, if you gather the whole money in the world, you need to be alive to enjoy it. Experience is wealth; character is wealth; character, goodwill, family are all wealth. So, I define wealth as having all that is required to live a holistic life and make impact by fulfilling your purpose.
How do we now become wealthy? The formula and principle have not changed. Everything begins with knowledge. Financial intelligence is a foundation, next is financial planning, discipline yourself and you then begin to grow organically. Part of that discipline is to delay gratification. Things are currently challenging, you know what you want to do and you do them with time.
How can you measure your financial base?
You look at your assets and liability as well as your income and expenditure. When I have more asset than liability, then I am growing. And once my expenditure is greater than my income, I am in trouble. But if my income is greater than my expenditure, I am okay.
What will you be saying to President Tinubu’s governemt should you have the opportunity?
They should continue with what they are doing, they should not start doing what they will not do well; blocking the corruption doorway, improve the infrastructure, taking care of the security and opening up other productive aspects of the economy. There are other areas that should be unlocked such as sports, entertainment, solid mineral resources, agriculture, etc. These are all areas that we can unlock and you will see Nigeria grow in the next five to 10 years. All these oil rants is olden days story, a discussion of poverty stricken and visionless people that are not thinking of the future. Oil will soon expire and then people will now wake up and discover that they could have done better. So, we should be thinking of other things.
How can a Nigerian business become trans-generational?
One of the reasons why we don’t have trans-generational businesses is because the first generation is always a pioneering and generating generation; the second generation is a maintenance generation; the third generation becomes an entitled generation and that becomes a problem. A speaker recently said that strong men create good times. And that good times create weak men. And those weak men will bring back hard time. So you find out that every generation is actually supposed to be a generating generation. We actually have a lot of trans-generational businesses in Nigeria but people are not telling their stories. And because people are not telling their stories, we don’t know. We have Alabukun pain reliever. It is still existing and trans-generational but nobody is talking about it because there is no structure or story around it. We also have some interstate transportation businesses that are trans-generational and still existing. We don’t talk about our stories because some people give us wrong narratives of ourselves.
When do you think the gains of some of these policies will to trickle down to the common man?
It will take a while for it to trickle down. We should just keep hope alive and continue to be doing what needs to be done. We should also be trusting that the government will be thinking of what needs to be done. During COVID 19 many people went through crisis. But they are not supposed to go through crisis if we had unlocked their pensions. Do you know there are trillions in pension that are going to become useless as Nigeria goes forward? If they collect the money now, they know what they can do with it. But by the time the money is made available to them, it would have become useless because inflation would have eaten it up. There are a lot of things we can do to unlock a lot of things.
The Lagos State Government has unveiled plans for the Third Edition of the Invest in Lagos Summit, positioning the gathering as a major platform to attract international investors.
The summit, the State Government said, will deepen economic partnerships and reinforce its status as Africa’s leading commercial hub.
The summit, with the theme: “Lagos Business Gateway to Africa: Where Innovation Meets Capital,” will take hold from June 8 to 9, 2026, with an additional industrial and infrastructure tour planned for June 10, 2026.
Unveiling the summit at a media briefing yesterday in Lagos, the organisers described “Invest in Lagos 3.” as a strategic economic intervention designed to unlock new investment opportunities, accelerate industrialisation and strengthen Lagos’ place in the global economic landscape.
The summit is put together by the State Government in collaboration with the Commonwealth Enterprise and Investment Council as well as several institutional and private sector partners.
Officials said the event would serve as a global meeting point for policymakers, multinational corporations, sovereign wealth funds, development finance institutions, innovators, entrepreneurs and investors seeking opportunities across key sectors of the Lagos economy.
They noted that the summit has evolved beyond a conventional conference into a strategic platform for policy dialogue, capital mobilisation, investment matchmaking and economic collaboration.
According to the organisers, the maiden edition, known as the Lagos Investment Roundtable, helped establish Lagos as a globally competitive economy with a clear reform agenda and investor-focused policies, while the second edition attracted international delegations and investment promotion agencies from Africa, Europe, Asia and the Middle East.
Co-chair of the summit’s Technical and Programmes Committee, Dr. Toyosi Akinyemi-Oshige, described the event as potentially “the defining investment convening for Africa in this decade.”
He disclosed that participants expected at the event will include at least 28,000 delegates from more than 50 Commonwealth countries, making it one of the largest investment gatherings on the continent.
Akinyemi-Oshige stated that unlike traditional conferences often limited to speeches and networking, Invest in Lagos 3.0 would prioritise measurable outcomes through technology-driven coordination and real-time engagement systems.
According to him, the summit will leverage digital dashboards, live intelligence systems and virtual engagement tools to improve participation and investment tracking throughout the event.
He added that youth entrepreneurship and innovation would form a central pillar of the summit, stressing that Lagos remains Africa’s leading startup ecosystem and a major hub for technology-driven businesses.
Officials disclosed that Invest in Lagos 2.0 generated curated investment portfolios valued at more than N800 billion across eight priority sectors and was projected to create approximately 80,000 jobs over a three-to-five-year period.
The previous edition also facilitated strategic memoranda of understanding, public-private partnerships and high-level deal room discussions on industrialisation, infrastructure financing, manufacturing, transportation, digital economy, logistics, sustainable urban development and the creative industry.
Speaking on the objectives of this year’s summit, organisers said Invest in Lagos 3.0 would build on those achievements with stronger implementation frameworks, deeper global engagement and more practical investment outcomes.
They described Lagos as the centre of Africa’s economic story, citing its population of over 23 million people, expanding transportation network, rapidly growing innovation ecosystem, industrial capacity and strategic maritime infrastructure as major attractions for investors.
According to them, Lagos remains uniquely positioned as the preferred destination for manufacturing, technology, finance, trade and enterprise development on the continent.
The summit will include executive roundtables, sector-focused investment dialogues, exhibitions, networking engagements and business-to-business meetings aimed at connecting investors directly with government institutions and private sector players.
One of the major highlights expected at the summit is the Governor’s Investment Showcase Panel, where state governors from across Nigeria will present targeted investment opportunities directly to international investors, development agencies and business leaders.
The session is expected to facilitate direct engagement between public officials and global capital providers on strategic projects capable of driving economic growth across the country.
The organisers confirmed that several high-profile international and local figures would participate in the summit, including the Chair of the Commonwealth Enterprise and Investment Council, Lord Marland, Governor Babajide Sanwo-Olu, Commonwealth Secretary-General Shirley Botchwey, Minister of Industry, Trade and Investment Jumoke Oduwole and the Secretary-General of the African Continental Free Trade Area.
Several leading corporations and investment institutions are also expected to participate, including Dangote Group, Julius Berger Nigeria, Olam Group, Alaro City and the Lekki Free Zone.
Organisers revealed that thematic discussions at the summit would focus on critical sectors considered essential to Lagos’ long-term economic growth. These include infrastructure and urban development, manufacturing and industrialisation, agriculture and food systems, technology and digital economy, blue economy, tourism, energy, logistics, financial services, real estate and SME development.
Special investment sessions will also spotlight emerging opportunities within Lagos’ economic zone agenda, including industrial parks, export-oriented manufacturing hubs, innovation districts and climate-focused infrastructure projects.
As part of efforts to integrate young people into the investment ecosystem, students from major tertiary institutions, including Lagos State University, will participate in managing digital command centres that will provide remote access to plenary sessions, keynote speeches and panel discussions for global audiences.
In another major innovation, organisers announced plans to introduce podcast studios and media engagement sections at the summit to amplify conversations around investment, tourism, culture and entrepreneurship in Lagos.
Beyond the conference sessions, foreign delegates are expected to embark on guided tours of major industrial and infrastructure projects across Lagos on June 10.
The tours will include visits to the Dangote Refinery, the Lekki Deep Sea Port, Lekki Free Trade Zone, the Blue and Red Rail Lines and the RussellSmith 3D Printing and Manufacturing Centre.
Organisers said the tours are intended to give international investors firsthand experience of Lagos’ ongoing transformation and infrastructural development.
Stakeholders at the briefing also emphasised the significance of the partnership between Lagos and the Commonwealth Enterprise and Investment Council, noting that it reflects growing international confidence in Nigeria and Africa as emerging investment frontiers.
They argued that the collaboration sends a strong signal to global investors that Lagos is increasingly becoming a strategic gateway into African markets.
The summit will also feature investment pavilions and sector-specific deal rooms where startups, businesses, state governments and investors can negotiate partnerships, showcase projects and secure financing opportunities.
According to the organisers, the pavilions will provide opportunities for companies, associations and institutions to host side events, display investment opportunities and interact directly with potential investors.
Special participation categories have also been created for startups, media organisations, strategic partners and sponsors.
Officials used the opportunity to call on residents, businesses, investors, diplomatic missions and members of the international community to participate actively in the summit, describing it as a collective effort to showcase Lagos as a modern, inclusive and future-ready smart city.
They expressed optimism that the summit would strengthen investor confidence, attract fresh domestic and foreign direct investments, facilitate strategic partnerships and generate employment opportunities capable of driving long-term prosperity in Lagos and across Nigeria.
“As a government, we remain fully committed to creating an enabling environment for businesses to thrive through reforms, infrastructure development, digital transformation and improved ease of doing business,” the organisers stated.
They added that under the leadership of Governor Sanwo-Olu, Lagos continues to pursue an ambitious economic agenda focused on resilience, innovation, industrial growth and global competitiveness.
Interested participants, investors and media organisations were advised to direct accreditation, enquiries and correspondence to the summit.
With expectations already building ahead of the summit, stakeholders believe Invest in Lagos 3.0 could become one of the most significant economic and investment gatherings ever hosted on the African continent, while further cementing Lagos’ reputation as the business gateway to Africa.
• Food, transportation spike inflation in March
The Centre for the Promotion of Private Enterprise (CPPE), yesterday warned against the current inflationary pressures are predominantly cost-push in nature, driven by energy, logistics and structural inefficiencies and not excess demand.
The Group, a policy and economic think-tank body, therefore cautioned against using the recent uptick in inflation as a basis for additional monetary tightening. It noted that further monetary tightening would be ineffective in addressing the root causes of inflation, high interest rates would hurt economic growth, investment and productivity; while the real sector would face increased financing constraints, undermining recovery efforts.
Reacting to the March Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), the CPPE boss, Dr. Muda Yusuf, described as worrisome the latest inflation data, describing it as a signaling a worrying resurgence of inflationary pressures, particularly on a month-on-month basis.
He said that while recent months have reflected a gradual moderation in year-on-year inflation, the release of the March CPI report gives a cause for concern given that headline inflation edged up to 15.38 per cent in March, while month-on-month inflation accelerated sharply to 4.18 per cent, nearly double the level recorded in February.
This development, Yusuf argued, underscores the fragility of the disinflation process and raises concerns about renewed cost pressures in the economy.
“The March 2026 CPI report highlights a critical development in Nigeria’s inflation trajectory, where the earlier gains in disinflation are now being threatened by a resurgence of cost-driven pressures, particularly from energy, food and transportation.
“This emerging trend suggests that while inflation had been moderating on a year-on-year basis, underlying structural vulnerabilities remain largely unresolved, with recent month-on-month increases pointing to renewed price momentum.
“The situation calls for urgent and targeted policy responses, as failure to address these supply-side drivers could reverse the fragile stability achieved and deepen the cost-of-living challenges facing households and businesses.
“While disinflation trends remain evident on a year-on-year basis, the resurgence of monthly inflation pressures signals that macroeconomic stability is still fragile. The policy response must therefore shift from a narrow focus on monetary tools to a broader strategy that addresses the structural drivers of inflation, particularly in energy, food and transportation.
“Without decisive action in these areas, the gains recorded in inflation moderation may prove temporary, while households and businesses continue to grapple with significant cost pressures,” Yusuf said.
Yusuf, who also doubles as the Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), noted that the recent uptick in inflation is largely reflective of renewed energy price pressures, which continue to permeate production, transportation and distribution costs across the economy.
Insisting that energy remains a critical cost driver in the country, given the persistent reliance on gas, diesel and petrol for power generation, logistics and industrial operations, Yusuf noted the implications of the development as “far-reaching.” Specifically, he pointed out that rising energy costs are quickly transmitted into higher transportation costs; increased food prices and escalating production and distribution expenses.
“This cost-push dynamic explains the sharp increase in month-on-month inflation and signals that the underlying inflationary pressures are far from subdued,” Dr. Yusuf explained.
Analysing the CPI data, the CPPE boss noted that it clearly shows that food and transportation-related costs remain the most significant contributors to inflation, accounting for a substantial proportion which is estimated at about 70 per cent of inflationary pressures when direct and indirect effects are considered.
From the data, food inflation stood at 14.31 per cent year-on-year, while core inflation—which captures broader price pressures—rose to 16.21 per cent. On the other hand, transportation costs, which are heavily influenced by fuel prices and logistics inefficiencies, exerted strong upward pressure on prices across sectors as higher transport costs raise the cost of moving food, goods and services nationwide, thereby amplifying inflation.
“These figures are particularly troubling given their direct impact on household welfare. The dominance of food and transport in the inflation basket has profound welfare consequences. These are non-discretionary expenditures, meaning households cannot easily adjust consumption in response to rising prices,” Dr. Yusuf said, adding that the situation is even more concerning given that rural inflation remains elevated, reflecting structural challenges in agricultural productivity and distribution systems.
The implications of these is the erosion of real incomes and purchasing power; rising cost of living pressures on households; increased poverty and vulnerability, particularly in rural areas and heightened inequality across regions and income groups.
The CPPE admonished that given the centrality of food and transportation to inflation and welfare, governments at both federal and subnational levels should prioritise interventions in these sectors.
For instance, in agricultural productivity, there is an urgent need to improve security in farming communities, strengthen rural infrastructure and logistics, enhance access to inputs and financing and promote mechanisation and modern farming techniques.
“Boosting agricultural productivity is the most sustainable pathway to moderating food inflation, not importation. Besides, governments at all levels should invest significantly in mass transit systems, bus and rail, reduce reliance on fragmented private transport systems, introduce regulatory frameworks to curb exploitative pricing and improve urban mobility infrastructure. A more structured and efficient public transport system will significantly reduce inflationary pressures and improve welfare outcomes,” Dr. Yusuf noted.
Nigeria’s economy is resilient and set to grow in the first half of 2026 despite the Iran war, the World Bank has said.
It however said that rising fuel costs and persistently high inflation risk squeezing incomes and slowing poverty reduction.
The bank also advised Nigeria to remove controls on fuel imports to ease inflation and support growth.
Business activity remains in expansion territory with the U.S./Israel-Iran conflict so far lifting prices but leaving output largely intact, World Bank Nigeria lead economist FisehaHaile said during a presentation in the capital Abuja.
“Overall business activity has been expanding over the past fewmonths, suggesting the impact on growth has been relatively contained. But the shock is still being felt through higher inflation,” Haile said.
President Bola Tinubu, now in his third year in office, has rolled outNigeria’s most ambitious economic overhaul in decades by ending costly fuel and energy subsidies, devaluing the currency and changing the tax system to stabilise an economy battered by high inflation, currency weakness and external shocks.
Inflation eased sharply to 15.06 per cent in February from around 33 per cent in December 2024, but remains high compared with regional peers and has come under renewed pressure since the Middle East conflict began, Haile said.
Fuel prices have risen more than 50 per cent during the Iran war, feeding into transport, food and production costs. Nigeria should consider lifting curbs on fuel imports to help ease inflation, he said.
“Inflation is still elevated and under increasing pressure, and that poses risks to incomes and poverty reduction,” Haile said.
Nigeria’s external buffers have improved as foreign exchange reserves rise and volatility eases, but tighter global financing conditions still threaten inflows, borrowing costs, and remittances.
Nigeria’s fiscal deficit widened slightly to 3.1 per cent of Gross Domestic Product (GDP) in 2025, but remains lower than in pre-reform years, Haile said, adding that the debt‑to‑GDP ratio fell for the first time in a decade, helped by stronger fiscal performance and exchange rate valuation gains.
The World Bank forecasts economic growth of about 4.2 per cent for 2026 and urged authorities to save windfalls from higher oil prices, keep monetary policy tight, and avoid blanket subsidies to rein in inflation.
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