By Erewunmi Peace

The Central Bank of Nigeria (CBN) has reaffirmed its commitment to achieving single-digit inflation and ensuring monetary and market stability across the country.

CBN Governor, Olayemi Cardoso, made this known over the weekend while addressing stakeholders in Uyo, Akwa Ibom State. He said the apex bank remains focused on implementing policies aimed at restoring price stability, strengthening the naira, and creating a sustainable macroeconomic environment.

According to Cardoso, recent monetary reforms introduced by the CBN are already yielding positive results, citing improved liquidity in the foreign exchange market and a gradual moderation of inflationary pressures.

“The Central Bank remains committed to achieving price stability. Our goal is to return inflation to a single-digit level over the medium term while ensuring the stability of our financial markets,” Cardoso stated.

He added that the CBN would continue to adopt data-driven and transparent policy measures to restore confidence in Nigeria’s financial system, while also working closely with fiscal authorities to support economic growth.

Nigeria’s inflation rate currently remains in double digits, driven largely by food and energy prices. However, the CBN governor expressed optimism that with consistent policy implementation and cooperation among economic stakeholders, the economy would achieve sustainable stability.

Economic analysts have welcomed the CBN’s renewed stance but cautioned that achieving single-digit inflation will require sustained policy discipline, reduced government borrowing, and increased local production.