The Central Bank of Nigeria (CBN) has highlighted the relationship between trade and economic stability, stating that while businesses need a stable and predictable environment to invest, grow and compete, “a vibrant and productive private sector strengthens the foundations for sustained economic growth and long-term stability.”
According to the Director, Stakeholder Engagement and Institutional Relations Department at the apex bank, Mrs. Hakama Sidi Ali, who stated this in her address at the “CBN Special Day” during the ongoing Lagos International Trade Fair yesterday, said that the banking sector regulator’s recognition of the fact that “trade and economic stability are mutually reinforcing,” that led it over the past three years to pursuing reforms that are aimed at “restoring monetary discipline, improving the functioning of the foreign exchange market and strengthening confidence in the Nigerian economy.”
She noted that while the reforms that cover areas such as the foreign exchange market, payment- system development and the banking sector recapitalization programme, have required difficult decisions, “they are essential to building a more stable and resilient economy.”
She said: “We are beginning to see encouraging signs of progress. Headline inflation moderated to 14.63% in September 2026, from a peak of 34.8% in November 2024, while economic activity has continued to expand. Nevertheless, we recognise that many households and businesses still face considerable cost pressures.
The Bank remains committed to consolidating the gains in price stability and creating a more predictable macroeconomic environment for businesses and households.”
She also stated that: “For businesses, the significance of macroeconomic stability goes beyond economic statistics. It means being better able to estimate production costs, negotiate contracts, manage cash flows and make longer-term investment decisions.
These are the practical outcomes that the Bank’s policies seek to support.” Mrs. Sidi Ali, who on behalf of the CBN Governor, Mr. Olayemi Cardoso, congratulated the Lagos Chamber of Commerce and Industry (LCCI), organisers of the Lagos International Trade Fair on the 40th anniversary of the event, noted that for four decades, the Fair has brought together entrepreneurs, manufacturers, investors and trading partners, creating opportunities for businesses to grow and connect with markets beyond the country’s borders.
She further said: “The theme of this year’s fair, ‘Trade, Growth and Global Connection’, speaks directly to Nigeria’s economic aspirations.
At a time when global supply chains are changing, technology is reshaping commerce and competition for investment is intensifying, Nigerian businesses must be equipped not only to serve the domestic market but also to compete across Africa and internationally.
“For the Central Bank of Nigeria, this ambition is closely linked to our mandate. Businesses need a stable macroeconomic environment in which they can plan, price their products, access financial services and make investment decisions with greater confidence. Our responsibility is to help create the monetary and financial conditions that make these activities possible.”
