CBN: Nigeria Builds Economic Buffers, Records Trade Surplus — Cardoso

By OBI DAVIES

CENTRAL Bank of Nigeria (CBN) Governor, Yemi Cardoso, says Nigeria has strengthened its economic resilience and created buffers against potential shocks through timely reforms.

Speaking at a G24 media briefing in Washington during the IMF/World Bank Annual Meetings, Cardoso said Nigeria’s proactive policies had stabilized expectations and improved external balance.

He noted that the country now has a competitive currency and a positive trade surplus projected at about 6% of GDP, driven by increased domestic production and reduced imports.

Cardoso added that under Argentina’s chairmanship, the G24 had successfully amplified the voices of emerging economies within global financial institutions like the IMF and World Bank.