We won’t allow reform fatigue — Cardoso

•Vows renewed propulsion for occupation creation, inclusive growth

By Babajide Komolafe, Economy Editor, Washington DC

Washington DC – Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reaffirmed the Federal Government’s committedness to sustaining ongoing economical reforms, stressing that Nigeria volition not let “reform fatigue” to derail the advancement already achieved successful stabilising the economy.

Speaking astatine a property briefing connected Nigeria’s information astatine the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank successful Washington DC, Cardoso said the Nigerian delegation returned location “encouraged by renewed capitalist confidence” and determined to support the existent trajectory of discipline, stability, and inclusive growth.

“We privation to guarantee that the policies we person already applied enactment the people and that we don’t let betterment fatigue to acceptable in,” Cardoso said. “The information of allowing betterment fatigue is that you whitethorn suffer each the gains already achieved. We person to proceed to amusement results due to the fact that this is not a abbreviated dash race. Nigerians volition soon statesman to consciousness the benefits arsenic ostentation continues to inclination down.”

G-24 chairmanship

Cardoso announced that Nigeria volition presume the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) connected International Monetary Affairs and Development, effectual November 1, 2025, succeeding Argentina. The development, helium said, underscores increasing planetary assurance successful Nigeria’s enactment wrong the planetary fiscal system.

“This milestone highlights our country’s rising power successful shaping planetary fiscal architecture,” helium stated. “We commend the outgoing chair, Mr. Luis Caputo, and Dr. Iyabo Masha, Director of the G-24 Secretariat, for their outstanding stewardship.”

The CBN Governor disclosed that engagements with the IMF, World Bank, standing agencies, and investors during the meetings revealed a wide statement that Nigeria’s reforms are yielding affirmative results.

According to him, header ostentation fell for the sixth consecutive period to 18.02 percent successful September, its lowest level successful 3 years, portion the naira has continued to strengthen, with the spread betwixt authoritative and parallel marketplace rates narrowing to little than 2 percent.

“Foreign reserves present basal supra $43 billion, providing much than 11 months of import cover,” helium said. “This reflects improved capitalist assurance and renewed inflows crossed plus classes.”

Cardoso added that the Federal Government continues to fortify fiscal subject done improved gross mobilisation, cost-cutting, and subsidy reforms, which person helped rebalance nationalist finances and make abstraction for accrued concern successful infrastructure, health, and education.

Bank recapitalization

The CBN Governor noted that the ongoing slope recapitalisation programme is progressing steadily, aimed astatine strengthening Nigerian banks to marque them “more resilient and globally competitive.”
He besides highlighted the CBN’s increasing engagement with Nigeria’s fintech sector, which helium described arsenic a captious pillar of the country’s integer future.

“Innovation and regularisation indispensable advancement together, anchored successful spot and liable growth,” helium said, adding, “Our fintechs are ambassadors of Nigeria’s creativity and resilience. We privation to guarantee that our integer fiscal aboriginal is built connected innovation, integrity, and inclusion.”

Cardoso revealed that Nigeria intends to play an progressive relation successful shaping the planetary regulatory model for stablecoins and integer currencies, noting that portion specified innovations heighten inclusion and payments efficiency, they indispensable not undermine fiscal sovereignty.

Job creation

Minister of State for Finance, Dr. Uzoka-Anite, who besides spoke astatine the briefing, said Nigeria’s information successful the World Bank’s Human Capital and Conflict Forum was successful enactment with the government’s committedness to gathering “job-rich economies.”

She said, “With expanding revenues and ongoing taxation reforms, we expect to spot much concern successful infrastructure, agriculture, and the integer economy. These efforts volition catalyse occupation creation, peculiarly for younker and women-led businesses. The authorities is prioritising product...