LunagisthubNigeria’s Economy Shows Signs of Strength with 6% Trade Surplus
The Central Bank of Nigeria’s
Governor, Olayemi Cardoso, has announced that the country’s trade surplus has risen to 6% of its Gross Domestic Product (GDP). This improvement is attributed to ongoing macroeconomic reforms implemented by the Bola Tinubu administration.
Nigeria’s trade surplus has reached 6% of its GDP, indicating a significant improvement in the country’s trade balance.
The economic outlook is brightening, despite global headwinds, as policy reforms continue to gain traction.
Sound macroeconomic policies are yielding positive results, according to Cardoso, who emphasized the importance of maintaining disciplined economic management.
The Central Bank of Nigeria is working on a framework to strengthen currency swaps with other countries. This move aims to support Nigeria’s external reserves and trade settlements while benefiting both parties involved.
Nigeria’s economy is showing signs of strength, driven by effective macroeconomic policies and reforms. With a trade surplus of 6% of GDP, the country’s economic outlook appears promising, and continued policy discipline is expected to support sustainable growth and investor confidence .
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