By Muhammad Mamman
The Central Bank of Nigeria (CBN) says it is pursuing sustainable economic growth while reining in inflation through a raft of far-reaching monetary and structural reforms.
The apex bank disclosed that recent policy measures are designed to restore confidence in the financial system, stabilise prices and support productive sectors of the economy. These reforms, it said, reflect a renewed focus on discipline, transparency and market-driven mechanisms.
According to the CBN, key interventions include tighter monetary policy to curb excess liquidity, reforms in the foreign exchange market to enhance transparency and improve price discovery, and stricter banking supervision to strengthen financial stability. The bank noted that these steps are already helping to moderate inflationary pressures while laying the foundation for long-term growth.
CBN officials said the reform agenda also prioritises boosting credit to the real sector, particularly agriculture, manufacturing and small and medium-sized enterprises, as part of efforts to stimulate output, create jobs and expand the economy’s productive base.
The apex bank stressed that while inflation remains a major concern, early indicators suggest that consistent policy implementation and improved coordination with fiscal authorities are beginning to yield results.
Reaffirming its commitment to price stability, the CBN said it would continue to deploy appropriate policy tools to protect the purchasing power of Nigerians, attract investment and support economic recovery.
The reforms come amid ongoing efforts by the federal government and monetary authorities to address macroeconomic imbalances and place the economy on a more resilient and growth-oriented path.
