The Central Bank of Nigeria (CBN) has assured Nigerians that the benefits of the country’s improving economic stability will soon reach households and businesses.
CBN Governor Olayemi Cardoso gave the assurance on Tuesday at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja.
Cardoso, represented by Deputy Governor Philip Ikeazor, acknowledged that improvements in key economic indicators had yet to fully translate into better living conditions for many Nigerians.
He said stronger coordination between monetary and fiscal authorities, alongside ongoing reforms, would help transfer the gains of economic stabilization to households and businesses.
“Some of the reforms being carried out on the fiscal side will begin to manifest very soon,” Ikeazor said, citing initiatives such as the National Single Window.
The assurance comes as Nigeria records stronger economic growth. The National Bureau of Statistics reported that real GDP grew by 4.43 percent year-on-year in the second quarter of 2026, up from 3.89 percent in the first quarter.
President Bola Tinubu, represented by Finance Minister Taiwo Oyedele, said the next phase of the government’s reforms would focus on converting economic stability into investment, production, jobs, and improved living standards.
“Stability is the foundation. Prosperity is the destination,” Tinubu said.
CIBN President Dele Alabi similarly said the key challenge was ensuring that improvements in macroeconomic indicators translated into benefits for households, individuals, and businesses.
UBA Group CEO Oliver Alawuba said stronger coordination was still needed to channel more affordable credit into sectors such as agriculture, manufacturing, infrastructure, and small businesses.
The World Bank also called for greater access to finance and stronger job creation, saying economic stability should serve as a platform for directing capital towards productive businesses.
