Saturday, April 20, 2024
Google search engine
HomeNews"My Job is the Second Most Difficult Globally"- Cardoso

“My Job is the Second Most Difficult Globally”- Cardoso

Governor Olayemi Cardoso of the Central Bank of Nigeria reassured the nation of its forthcoming economic resurgence, despite acknowledging the formidable nature of his role, which he dubbed as the second most challenging globally in a recent address at the 2024 First Plenary Assembly of the Catholic Bishops Conference of Nigeria,.

Cardoso’s optimism stems from recent positive indicators, including a $1.8bn influx into the market, as reported by the CBN. He firmly believes that with sustained progress, Nigeria will emerge from its economic struggles, leading to a stabilization of the foreign exchange market.

Highlighting the necessity of economic diversification, Cardoso underscored the transition from a consumer-driven economy to one focused on production. He noted efforts to narrow the gap between official and black market exchange rates, a move aimed at fostering economic stability.

Related News

Tinubu Engages Brazil’s President to Boost Nigeria-Brazil Relations

Third Mainland Bridge to Undergo 24-Hour Repair

Furthermore, Cardoso stressed the urgency of reducing Nigeria’s dependency on foreign goods, advocating for a shift towards domestic production. He cited ongoing reforms by the Federal Government and the Central Bank as catalysts for renewed investor confidence and emphasized the importance of aligning policies to attract international investments.

Looking ahead, Cardoso announced an upcoming Monetary Policy Committee meeting where pivotal decisions will be made to enhance Nigeria’s attractiveness to investors. Despite prevailing economic challenges and social unrest, Cardoso’s unwavering optimism signals a determination to navigate Nigeria towards a brighter economic future.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments