The Committee reached a consensus that, relative to the February Statement, a lower path for the OCR over the projection period was appropriate. The lower path reflected the economic projections and the balance of risks discussed, and is consistent with both inflation and employment remaining near the Committee's objectives.
Hence, the manufacturing sector  BIS central bankers’ speeches  11  remains an insignificant contributor to growth. There is, therefore, urgent need to address all binding constraints to growth. As you all are aware, inadequate or absence of basic economic and social infrastructure remains a major binding constraint on Nigeria’s growth and development.