The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has announced that Nigeria’s trade surplus has improved to six per cent of the nation’s Gross Domestic Product (GDP), reflecting steady gains from ongoing fiscal and monetary reforms.
Cardoso disclosed this in a statement issued by Mr. Mohammed Manga, Director of Information and Public Relations at the Federal Ministry of Finance, on Wednesday in Washington.
He made the remarks while leading the Nigerian delegation to the IMF/World Bank Group Annual Meetings, where he reaffirmed the government’s commitment to prudent macroeconomic management and reform implementation.
According to the CBN governor, disciplined coordination between fiscal and monetary policies has strengthened economic growth and contributed to a gradual reduction in inflationary pressures.
Cardoso also revealed that the apex bank was developing a framework to ensure that currency swap arrangements with other countries are structured to deliver mutual benefits, aimed at enhancing Nigeria’s participation in international trade and financial cooperation.
Similarly, the Minister of State for Finance, Dr. Doris Uzoka-Anite, reiterated the federal government’s commitment to strategic engagement with global financial institutions and development partners to sustain economic growth.
Uzoka-Anite said her participation at the G-24 meeting underscored Nigeria’s determination to build stronger partnerships and pursue sustainable development through inclusive and forward-looking economic policies.
She noted that the global attention Nigeria received at the Washington meetings reflected growing international confidence in the country’s ongoing reform agenda and its drive to build a resilient, competitive, and dynamic economy.
According to her, Nigeria’s participation at the high-level meetings marked a significant step in advancing the nation’s economic diplomacy and reinforcing its position within the global financial community.
