Cardoso Tells Investors Nigeria Remains Committed to Macroeconomic Stability

Source: Premium Times

Nigeria's reform programme focuses on rules-based economic management, transparent markets and predictable policies to restore investor confidence.

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has told international investors that Nigeria remains committed to macroeconomic stability, as the country pursues economic reforms amid global financial uncertainty and persistent domestic pressures.

Mr Cardoso spoke on Monday in Washington, DC, at the US - Nigeria Executive Business Roundtable, where he engaged senior business leaders and institutional investors on Nigeria's economic outlook.

He said Nigeria's reform programme was anchored on rules-based economic management, transparent markets and predictable policy frameworks, which he described as critical to restoring investor confidence.

According to him, recent changes in the foreign-exchange market, the adoption of orthodox monetary policy, ongoing banking-sector reforms and the modernisation of the payments system were aimed at stabilising the economy and enabling private-sector-led growth.

The roundtable was convened by the US Chamber of Commerce's US-Africa Business Centre. Discussions focused on macroeconomic stabilisation, regulatory clarity and opportunities to scale bankable projects across priority sectors of the Nigerian economy, as Nigeria seeks to strengthen commercial ties with the United States.

Commenting on the discussions, the President of the US-Africa Business Centre at the US Chamber of Commerce, Kendra Gaither, said investors were increasingly focused on policy credibility and consistency.

"What investors are responding to today is clarity, clear rules, credible reforms, and a seriousness of purpose. Nigeria's message is increasingly one of discipline and opportunity, and that matters in a global economy seeking actively for stability and predictability."

Nigeria has implemented a series of economic reforms over the past year, including adjustments to the foreign-exchange framework, tighter monetary policy and efforts to strengthen banking supervision, as authorities seek to rein in inflation, stabilise the naira and improve capital inflows.

The engagement in Washington comes as Nigeria competes with other emerging markets for foreign investment at a time of elevated global interest rates and tighter financial conditions.