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The Central Bank of Nigeria (CBN) has assured the public that the benefits of stabilising economic indicators will soon filter down to households and businesses as ongoing fiscal and monetary reforms take effect.
Speaking at the Chartered Institute of Bankers of Nigeria conference in Abuja, CBN Deputy Governor Philip Ikeazor acknowledged that macroeconomic stability has not yet fully translated into better living conditions.
Ikeazor highlighted unprecedented coordination between the CBN and the Nigerian government, emphasising that upcoming fiscal initiatives will complement monetary policy.
“Stability has returned. Credibility is rising. Prosperity is coming,” stated Minister of Finance Taiwo Oyedele, representing President Bola Tinubu. “These improvements matter, but we must not mistake macroeconomic stability for economic prosperity. Stability is the foundation. Prosperity is the destination.”
Financial sector leaders and international observers agreed that policymakers must convert high-level gains into micro-level relief for individuals and small businesses.
CIBN President Dr. Dele Alabi stressed that reforms must shift stability “from national balance sheets to business balance sheets and household budgets,” particularly as small enterprises struggle with high operating costs and financing constraints.
Oliver Alawuba, Chairman of the Body of Bank CEOs, pointed to Nigeria’s 4.43 per cent Q2 2026 GDP growth, easing inflation, and growing foreign reserves as clear signs of progress, noting, “These are signposts. They are mileposts. They are not the destination.”
The World Bank also affirmed the reality of Nigeria’s recent economic turnaround while emphasising that sustainable job creation must serve as the primary measure of future success.
Senior Private Sector Specialist Bertine Kamphuis pointed out that domestic credit to the private sector remains low at roughly 13 per cent of GDP, with micro, small, and medium-sized enterprises receiving only about one per cent.
Experts at the summit urged recapitalised commercial banks to channel their expanding balance sheets into affordable credit for manufacturing, agriculture, and infrastructure to drive broader national prosperity.
