CBN Governor Cardoso Touts Economic Stability Achieved Through Reforms
At the NEC Conference in Abuja, CBN Governor Olayemi Cardoso highlighted the success of the CBN's reforms in achieving economic stability. The conference, themed "Delivering Inclusive Growth for Sustainable Development," saw commendations from various officials including Senator Abubakar Bagudu and President Bola Tinubu for the economic transformation and improved fiscal conditions.
Cardoso emphasized Nigeria's need for a 10% annual growth rate to reach a $1 trillion economy in the next decade. He noted the country's progress, with a $3.42 billion balance of payment surplus in the third quarter of 2025, reduced inflation, and a sound banking sector.
Cardoso also discussed the CBN's strategy for managing risks, particularly excess liquidity during election cycles. The roadmap for 2026-2030 aims to leverage macroeconomic stability for enhanced productivity and growth across sectors.
Cardoso stressed the importance of maintaining a stable economy to drive development and ensure price stability.
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