Nigeria’s economy on right tracks despite external pressures - CBN Gov, Cardoso
CBN Governor Olayemi Cardoso defended the resilience of the Nigerian economy, citing moderate inflation and stable foreign exchange markets. He also addressed concerns regarding national debt, clarifying that recent figures were largely accounting adjustments.
Why it matters
The statement aims to reassure investors and the public about the stability of Nigeria's fiscal policy amidst global economic volatility.
The Central Bank of Nigeria, CBN, Governor, Olayemi Cardoso, says Nigeria’s economy has continued to demonstrate strong resilience in the face of external pressures. Cardoso made this assertion on Wednesday at an interactive session with the Senate Committee on Banking, Insurance and Other Financial Institutions. The apex bank governor assured the Senators that despite volatility and persistent uncertainties in the global environment, especially tensions in the Middle East, the Nigerian economy remains strong and resilient, as reflected in expanding economic activities across key sectors. According to him, inflationary pressures remain moderate, while the foreign exchange market has remained relatively stable.
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