Nigeria’s economy is showing signs of strong recovery, recording a 6% trade surplus in recent months, according to Central Bank Governor, Olayemi Cardoso. The apex bank chief stated this on Wednesday while presenting an update on the country’s economic outlook and monetary performance.

Cardoso explained that the trade surplus reflects improved export performance, driven by rising crude oil output, increased non-oil exports, and stable foreign exchange reforms. He said Nigeria’s current account balance has remained positive for the first time in years, signalling that the country is now earning more from exports than it spends on imports.

According to the CBN governor, key sectors such as agriculture, manufacturing, and services have also recorded marginal growth due to the government’s focus on structural reforms and renewed investor confidence. He attributed the progress to President Bola Tinubu’s economic team, which has implemented bold policies to stabilise the naira and restore fiscal discipline.

Cardoso noted that while inflation remains a challenge, efforts by the CBN to tighten monetary policy and curb excess liquidity are beginning to yield positive results. He assured Nigerians that the economy is on the right path and urged patience as the reforms take full effect. “We are beginning to see results. The data shows that our economy is recovering steadily, and the fundamentals are improving,” he said.

He further disclosed that Nigeria’s foreign reserves have grown modestly and foreign investors are returning, particularly in the energy and manufacturing sectors. Cardoso reaffirmed the CBN’s commitment to sustaining transparency and policy consistency to ensure long-term stability and growth.