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Nigeria’s economic outlook brightens at G24 meetings amid IMF/World Bank Annual Sessions

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Abdullateef Fowewe

Nigeria is gaining global attention as its economic prospects improve markedly, highlighted by a strong presence at the G24 meetings during the IMF/World Bank Annual Meetings in Washington D.C. Key Nigerian officials, including the Minister of State for Finance, Doris Uzoka-Anite, and the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, actively participated in discussions on domestic resource mobilization, inflation, and sound macroeconomic policies.

This was obtained in a statement on Wednesday by the Ministry of Finance.

Cardoso revealed encouraging news about Nigeria’s trade balance, stating, “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 credited this positive trend to “sound macroeconomic policies that are beginning to yield positive results.”

Underscoring the impact of economic discipline, Cardoso noted, “There is a strong correlation between disciplined economic management, growth, and disinflation.”

The Governor also announced ongoing work on “a framework to make currency swaps with other countries a win-win affair,” signaling Nigeria’s intent to deepen financial cooperation on the international stage.

Doris Uzoka-Anite’s active role at the meetings reinforces the Nigerian government’s commitment to fostering economic partnerships globally. Her participation “demonstrates the government’s proactive approach to fostering economic cooperation and dialogue with global partners,” a critical factor in driving national growth and development.

These discussions mark a pivotal moment in Nigeria’s economic journey, highlighting the country’s determination “to engage with international financial institutions and stakeholders to drive progress and improve the lives of its citizens.”

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