Federal Government says Trade Surplus Rises to 6% of GDP

By Oluwakemi kindness

Nigeria’s economic narrative is gaining momentum, with the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, revealing that the nation’s trade surplus has grown to 6% of Gross Domestic Product (GDP).

He made this known during the G24 meetings held on the sidelines of the IMF/World Bank Annual Meetings in Washington D.C., where Nigeria’s delegation was led by Dr. Doris Uzoka-Anite, Minister of State for Finance, and the CBN Governor.

Cardoso attributed the positive trade performance to the implementation of sound macroeconomic policies that are beginning to stabilize key indicators such as inflation, exchange rates, and fiscal discipline.

He emphasized that disciplined economic management remains essential for sustaining growth and achieving disinflation goals.

In a forward-looking move, the CBN Governor also disclosed that the Bank is developing a new framework for currency swaps aimed at creating mutually beneficial arrangements with partner countries, part of efforts to deepen Nigeria’s trade and financial integration globally.

Dr. Uzoka-Anite’s active participation at the meetings highlighted Nigeria’s commitment to international economic cooperation, as discussions focused on domestic resource mobilization, inflation control, and policy coordination among emerging economies.

The Minister reaffirmed the government’s dedication to inclusive growth and sustainable development, stressing that engagement with global financial institutions remains vital to unlocking Nigeria’s full economic potential.

As Nigeria continues to attract international attention for its reform-driven economic agenda, these meetings represent another significant step toward economic resilience, fiscal sustainability, and improved livelihoods for its citizens.