Nigeria’s trade surplus has risen to six per cent of the nation’s gross domestic product (GDP), the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced.
Speaking on Wednesday during the annual meetings of the IMF and World Bank Group in Washington, Mr Cardoso – who is leading the Nigerian delegation – reiterated the government’s commitment to prudent macroeconomic management and reforms. He emphasised the link between disciplined fiscal and monetary policies, economic growth, and a gradual reduction in inflationary pressures.
The CBN governor also disclosed that the bank is developing a framework to ensure currency swap arrangements with other countries are structured to deliver mutual benefits. He said Nigeria’s intention is to strengthen its position in international trade and financial cooperation.
In a related development, the Minister of State for Finance, Doris Uzoka-Anite, reaffirmed the government’s commitment to strategic engagement with global financial institutions and development partners. Speaking at the G-24 meeting, she noted that Nigeria’s presence there underscored its determination to build stronger partnerships and foster sustainable growth through inclusive and forward-looking economic policies.
According to the minister, the global spotlight on Nigeria at the meeting reflects growing international confidence in the country’s reform agenda and its resolve to build a resilient, competitive, and dynamic economy. She added that Nigeria’s participation in the Washington meetings represents a significant step in advancing the nation’s economic diplomacy.
(Report sourced from NAN)
