Central Bank Nigeria (CBN) Governor, Olayemi Cardoso, has disclosed that Nigeria’s trade surplus has risen to 6% of the nation’s Gross Domestic Product (GDP) and is expected to remain at that level in the near term.
He attributed the improved balance of trade to sound macroeconomic policies that are beginning to yield positive results.
This was stated in a press statement by the Ministry of Finance on their official X handle today.
Minister of State for Finance, Dr. Doris Uzoka-Anite, with the CBN governor, were part of the Nigerian delegation to the G-24 meeting on the sidelines of the IMF/World Bank annual meetings in Washington D.C.
The meetings provided a platform for discussions on key themes such as domestic resource mobilization, inflation, and sound macroeconomic policies.
The CBN governor also highlighted the importance of maintaining sound macroeconomic policies, noting a strong correlation between disciplined economic management, growth, and disinflation.
He further disclosed that the apex bank is working on a framework to make currency swaps with other countries a win-win affair.
Dr. Uzoka-Anite’s participation in the meetings underscores the federal government’s commitment to engaging with international financial institutions and stakeholders to drive economic growth and development.
Her presence at the G24 meetings demonstrates the government’s proactive approach to fostering economic cooperation and dialogue with global partners.
The meetings mark a significant step forward for Nigeria’s economic growth and development, as the country continues to engage with international financial institutions and stakeholders to drive progress and improve the lives of its citizens.
