Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has emphasised the need to prioritise inflation control as a cornerstone of the nation’s economic strategy.
Speaking Tuesday at the 30th Nigerian Economic Summit in Abuja, Mr Cardoso identified inflation as one of the most pressing challenges facing Nigeria, impacting both households and businesses.
He said that inflation management is essential to stabilising the economy, fostering investment, and protecting the purchasing power of Nigerians, particularly in a period of significant global economic turbulence.
“The monetary side is there to more or less create some stability. But it doesn’t substitute for the fundamentals. It does not. So, we have a situation where, from our perspective, taming inflation is key.
“Taming inflation is key. Because if you do not tame inflation, it has such a major throwback. It can deter investment,” he said, acknowledging the complexity of the task in a country where…