FG has taken practical steps to revamp Nigeria’s economy, says Cardoso

 The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says the Federal Government has taken practical steps to revamp the Nigerian economy over the past year.

Cardoso said this recently in Abuja, at the Bankers’ Committee Retreat, with the theme: “Contract and Commitment to National Development and Economic Growth”.

He said that the country was making steady progress in various economic sectors while urging both the public and private sectors to synergise and consolidate on the modest achievements.

“As we gather here, we are acutely aware of the challenges that have tested our nation in recent years: poverty, rising inflation, infrastructure deficits, insecurity, and unemployment.

“It is not all bleak. In recent times, we have witnessed significant strides made by both government and private partners in leveraging the immense opportunities before us to rewrite our nation’s story.

“However, while progress has been steady, it is evident that the road ahead remains long.

“The work before us requires focus, innovation, and unwavering resolve to reshape our collective future,” he said.

He urged the Bankers” Committee to take bold steps by making meaningful contributions to the economic growth and development of the country.

“This is why the theme of this retreat has been carefully chosen, to inspire deeper collaboration and renewed commitment as we strive to build a brighter future for ourselves and generations to come.

“Over the next few days, we will engage in meaningful discussions, share insights and experiences, and explore bold solutions to the pressing issues facing our nation,” he said. .

He tasked the committee to be guided by certain considerations:

“What steps must we take to improve the business environment for all: large corporates, SMEs, and others?

“How can we better leverage public-private partnerships for infrastructure development?

“What are the most effective ways to close skill gaps in our workforce?” Cardoso said.

He urged the committee members to also deliberate on how the country could foster an ecosystem that nurtures and supports innovation.

He said that they should also be concerned with how to reinforce the social contract with the Nigerian people to build a more inclusive economy.