The Central Bank of Nigeria (CBN) has highlighted improvements in the country’s economic resilience, noting that recent monetary and fiscal reforms have strengthened Nigeria’s capacity to withstand external economic shocks.

The development comes amid growing global uncertainties, including geopolitical tensions, volatile energy prices and tightening international financial conditions, which continue to pose risks to emerging economies.

CBN Governor, Olayemi Cardoso, has maintained that Nigeria’s improved external reserves, greater stability in the foreign exchange market and ongoing policy reforms are helping to cushion the economy against global disruptions.

The apex bank has also pointed to stronger foreign exchange buffers and improved monetary policy transmission as important factors supporting the country’s economic stability.

Nigeria’s foreign reserves have recorded significant growth in 2026, providing additional support for foreign exchange management and the country’s ability to meet external obligations.

According to the CBN, these developments reflect the impact of policy adjustments aimed at addressing longstanding economic imbalances and strengthening the country’s financial position.

However, the bank recognises that global developments, particularly rising energy costs and geopolitical conflicts, could still exert pressure on domestic inflation, exchange rate stability and economic growth.

The CBN has therefore emphasised the need for continued policy consistency, prudent economic management and sustained reforms to preserve the gains achieved so far.

While the strengthening of economic buffers provides Nigeria with greater capacity to absorb external shocks, maintaining that progress will depend on the sustainability of foreign exchange inflows, improved domestic production and effective coordination between monetary and fiscal authorities.

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