This development was attributed to sustained supply of foreign exchange and stability of the naira. 16  20. We were also aware that in order to ensure sustainable growth, efforts must be made to address factors that constrained the growth of businesses in Nigeria. This led to the set-up of the enabling business committee PEBEC, chaired by His Excellency the Vice President.
The role of monetary policy I have left a detailed discussion of the role of monetary policy (and of the Bank of Canada) for last. To explain the role of monetary policy through the 1990s, I need to go back to the 1970s and 1980s.