Washington: Nigeria’s trade surplus has climbed to six percent of the nation’s Gross Domestic Product (GDP), according to Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN). This announcement was made in a statement by Mr. Mohammed Manga, the Director of Information and Public Relations at the Federal Ministry of Finance, during events in Washington.
According to News Agency of Nigeria, Mr. Cardoso, who led the Nigerian delegation to the annual meetings of the IMF/World Bank Group, emphasized the government’s dedication to prudent macroeconomic management and reforms. He highlighted the correlation between disciplined fiscal and monetary policies, economic growth, and the gradual reduction of inflationary pressures. Cardoso also noted that the CBN is working on a framework to ensure that currency swap arrangements with other countries are mutually beneficial.
The CBN governor expressed Nigeria’s objective to bolster its stance in international trade and financial cooperation. Dr. Doris Uzoka-Anite, Nigeria’s Minister of State for Finance, echoed the government’s commitment to strategic engagement with global financial institutions and development partners. She pointed out that her participation in the G-24 meeting underlined Nigeria’s resolve to establish stronger partnerships and promote sustainable growth through comprehensive and proactive economic policies.
Dr. Uzoka-Anite further stated that the global focus on Nigeria at the meeting signified an increasing international confidence in Nigeria’s reform agenda and its determination to build a resilient, competitive, and dynamic economy.
