…Minister vows renewed push for job creation, inclusive progress
By Babajide Komolafe, Financial system Editor, Washington DC
Governor of the Central Financial institution of Nigeria (CBN), Mr. Olayemi Cardoso, has reaffirmed the Federal Authorities’s dedication to sustaining ongoing financial reforms, stressing that Nigeria is not going to permit “reform fatigue” to derail the progress already achieved in stabilising the financial system.
Talking at a press briefing on Nigeria’s participation on the 2025 Annual Conferences of the Worldwide Financial Fund (IMF) and the World Financial institution in Washington DC, Cardoso stated the Nigerian delegation returned house “inspired by renewed investor confidence” and decided to take care of the present trajectory of self-discipline, stability, and inclusive progress.
“We wish to be certain that the insurance policies we now have already utilized keep the course and that we don’t permit reform fatigue to set in,” Cardoso stated.
“The hazard of permitting reform fatigue is that you could be lose all of the positive aspects already achieved. We have now to proceed to point out outcomes as a result of this isn’t a brief sprint race. Nigerians will quickly start to really feel the advantages as inflation continues to pattern down.”
Nigeria’s G-24 Chairmanship
Cardoso introduced that Nigeria will assume the chairmanship of the Intergovernmental Group of Twenty-4 (G-24) on Worldwide Financial Affairs and Improvement, efficient November 1, 2025, succeeding Argentina. The event, he stated, underscores rising worldwide confidence in Nigeria’s management inside the international monetary system.
“This milestone highlights our nation’s rising affect in shaping international monetary structure,” he said.
“We commend the outgoing chair, Mr. Luis Caputo, and Dr. Iyabo Masha, Director of the G-24 Secretariat, for his or her excellent stewardship.”
Reforms Yielding Outcomes
The CBN Governor disclosed that engagements with the IMF, World Financial institution, ranking companies, and buyers through the conferences revealed a broad consensus that Nigeria’s reforms are yielding constructive outcomes.
In accordance with him, headline inflation fell for the sixth consecutive month to 18.02 % in September — its lowest degree in three years — whereas the naira has continued to strengthen, with the hole between official and parallel market charges narrowing to lower than two %.
“International reserves now stand above $43 billion, offering greater than 11 months of import cowl,” he stated. “This displays improved investor confidence and renewed inflows throughout asset lessons.”
Cardoso added that the Federal Authorities continues to strengthen fiscal self-discipline by improved income mobilisation, cost-cutting, and subsidy reforms, which have helped rebalance public funds and create area for elevated funding in infrastructure, well being, and training.
Financial institution Recapitalisation and Fintech Improvement
Cardoso famous that the continued financial institution recapitalisation programme is progressing steadily, geared toward strengthening Nigerian banks to make them “extra resilient and globally aggressive.”
He additionally highlighted the CBN’s rising engagement with Nigeria’s fintech sector, which he described as a important pillar of the nation’s digital future.
“Innovation and regulation should progress collectively, anchored in belief and accountable progress,” he stated, including that, “Our fintechs are ambassadors of Nigeria’s creativity and resilience. We wish to be certain that our digital monetary future is constructed on innovation, integrity, and inclusion.”
Stablecoins and Regional Partnerships
The CBN Governor revealed that Nigeria intends to play an energetic function in shaping the worldwide regulatory framework for stablecoins and digital currencies, noting that whereas such improvements improve inclusion and funds effectivity, they need to not undermine monetary sovereignty.
Minister Pledges Job Creation Drive
Minister of State for Finance, Dr. Uzoka-Anite, who additionally spoke on the briefing, stated Nigeria’s participation within the World Financial institution’s Human Capital and Battle Discussion board was in keeping with the federal government’s dedication to constructing “job-rich economies.”
She stated: “With rising revenues and ongoing tax reforms, we anticipate to see extra funding in infrastructure, agriculture, and the digital financial system. “These efforts will catalyse job creation, notably for youth and women-led companies. The federal government is prioritising productiveness and inclusive progress throughout key sectors.”
The Minister additional famous that Nigeria’s collaboration with improvement companions, together with the World Financial institution’s new agricultural innovation programme, would assist scale up entry to finance for ladies and youth entrepreneurs within the agribusiness worth chain.
Confidence Rebuilding
Cardoso concluded that Nigeria’s engagements through the Washington conferences despatched a powerful message of “credibility, alignment, and reform momentum.”
“Our story is one among resilience — a nation aligning braveness with conviction to construct a extra aggressive, revolutionary, and inclusive financial system,” he stated.
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