The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, says that Nigeria’s trade surplus has climbed to 6 per cent of the nation’s Gross Domestic Product (GDP).
Speaking at the annual meetings of the IMF/World Bank Group in Washington, US, Cardoso reiterated the government’s commitment to prudent macroeconomic management and reforms.
He said that there was a link between disciplined fiscal and monetary policies, economic growth, and a gradual reduction in inflationary pressures.
According to him, the CBN is developing a framework to ensure that currency swap arrangements with other countries are structured to deliver mutual benefits.
The statement by the Director of Information and Public Relations, Federal Ministry of Finance, Mr Mohammed Manga, quoted Cardoso as saying that the country’s intention is to strengthen its position in international trade and financial cooperation.
The statement added that Nigeria’s Minister of State for Finance, Dr Doris Uzoka-Anite, in her remarks, reiterated the commitment of the Nigerian government to strategic engagement with global financial institutions and development partners.
It said that Dr. Uzoka-Anite assured that her presence at the G-24 meeting highlighted Nigeria’s determination to build stronger partnerships and foster sustainable growth through inclusive and forward-looking economic policies.
According to her, the global spotlight on Nigeria at the meeting reflects the growing international confidence in the country’s reform agenda and its resolve to build a resilient, competitive and dynamic economy.
“Nigeria’s participation in the Washington meetings represents a significant step in advancing the nation’s economic diplomacy,” she added
GIK/APA