AWC Economy Desk
Abuja, March 2026 — The Federal Government has reaffirmed its commitment to macroeconomic stability and ongoing economic reforms, citing notable gains in monetary policy and financial sector restructuring.
Speaking at the 2026 Monetary Policy Forum, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, outlined key reforms aimed at stabilising the financial system and strengthening economic fundamentals.
Key Monetary Reforms
Cardoso highlighted major policy measures, including:
Bank recapitalisation programme, with 32 banks already meeting new capital requirements
Stricter financial regulations to enhance sector stability
Improved foreign exchange (FX) management, including the clearance of FX backlogs
Increased diaspora remittances, boosting external reserves
Fiscal Discipline and Credibility
The Federal Government also pointed to strengthened fiscal management, noting:
Significant reduction in Ways and Means advances
Improved financial credibility and transparency
Minister of Finance, Wale Edun, emphasised that coordinated fiscal and monetary policies have played a key role in restoring investor confidence.
Boosting Investor Confidence
Edun stated that ongoing reforms have:
Enhanced Nigeria’s investment climate
Stabilised key economic indicators
Positioned the country for sustainable long-term growth
Outlook
Economic managers say the continued alignment of fiscal and monetary strategies will be critical to maintaining stability, controlling inflation, and driving inclusive growth.
The Federal Government’s latest update signals growing confidence in Nigeria’s economic reform trajectory, with monetary policy gains reinforcing efforts to build a more stable and investment-friendly African economy.
