Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has announced that Nigeria’s trade surplus has risen to six per cent of the nation’s gross domestic product (GDP).
This statement was made in Washington on Wednesday, as conveyed by Mohammed Manga, the Director of Information and Public Relations at the Federal Ministry of Finance.
Mr Cardoso, who also headed the Nigerian delegation at the annual meetings of the IMF and World Bank Group, reaffirmed the government’s dedication to prudent macroeconomic management and ongoing reforms.
He emphasised the connection between disciplined fiscal and monetary policies, economic growth, and a gradual alleviation of inflationary pressures.
Furthermore, he stated that the CBN is in the process of developing a framework to ensure that currency swap agreements with other nations are structured to yield mutual benefits.
The CBN Governor expressed the country’s aim to enhance its standing in international trade and financial cooperation.
Doris Uzoka-Anite, the Minister of State for Finance, reiterated the government’s commitment to strategic collaboration with global financial institutions and development partners.
Ms Uzoka-Anite highlighted that her attendance at the G-24 meeting underscored Nigeria’s resolve to forge stronger partnerships and promote sustainable growth through inclusive and forward-thinking economic policies.
She noted that the global attention on Nigeria during the meeting signifies increasing international confidence in the country’s reform agenda and its commitment to building a resilient, competitive, and dynamic economy.
According to the Minister, Nigeria’s involvement in the Washington meetings marks a significant advancement in the nation’s economic diplomacy.
(NAN)
