The Central Bank of Nigeria says it will take necessary measures to bring the nation’s rising inflation under control.

The Central Bank Governor, Yemi Cardoso, stated this when he met the Governor of Benue State, Hyacinth  Alia, while reassuring of the steps taken to address the economic challenges.

Cardoso, who says the monetary policy has been moderating aggregate demand as rising food and energy costs continue to exert upward pressure on price development.

Cordoso noted that prevailing insecurity in food producing areas and high cost of transportation of farm produce are also contributing to the rise in food inflation in the country. 

The CBN  governor said there was need to check such activities in order to address the food supply deficit in Nigerian market and moderate food prices. 

Governor Hyacinth Alia, of BENUE state, solicited the support of the Central Bank of Nigeria, CBN, in streamlining the state's economy to engender economic growth, employment, the development of vital infrastructure and technology, as well as enhance financial inclusion. 

The governor requested the CBN to facilitate partnership with development finance institutions to fund large-scale projects such as agricultural mechanization, industrial parks, special economic zones, and major infrastructure projects to spur economic development across the state.