The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says Nigeria’s trade surplus has climbed to six per cent of the nation’s gross domestic product (GDP).
Mr Cardoso said this in a statement by the director of information and public relations of the federal ministry of finance, Mohammed Manga, in Washington on Wednesday.
Mr Cardoso, who also led the Nigerian delegation at the annual meetings of the IMF/World Bank Group in Washington, 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.
He said that the CBN was developing a framework to ensure that currency swap arrangements with other countries were structured to deliver mutual benefits.
The CBN governor said that the country’s intention was to strengthen its position in international trade and financial cooperation.
The minister of state for finance, Doris Uzoka-Anite, reiterated the government’s commitment to strategic engagement with global financial institutions and development partners.
Ms Uzoka-Anite said 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.
She said that the global spotlight on Nigeria at the meeting reflected growing international confidence in the country’s reform agenda and its resolve to build a resilient, competitive and dynamic economy.
According to the minister, Nigeria’s participation in the Washington meetings represents a significant step in advancing the nation’s economic diplomacy.
(NAN)