The Nigerian economy is experiencing a resurgence, marked by exchange rate stability and increased investment inflows.
Dr. Victor Oboh, Director of Monetary Policy at the Central Bank of Nigeria (CBN), attributed this positive trend to the economic reforms implemented by President Bola Ahmed Tinubu’s administration.
Oboh, a Policy Economist and Director of Monetary Policy Department of the Central Bank of Nigeria (CBN), stated this at a-two-day training, organised by the Premium Times Training Academy, in Abuja.
Presenting a paper, entitled “Monetary Policy Tools and Indicators”, Dr. Oboh attributed this to the unrelenting efforts the President Bola Ahmed Tinubu’s administration had invested in economic reforms, which he further said the CBN had tapped into.
Postulating that “the country’s short term pain is for a long term gains,” the former National Economist, who supported the United Nations Development Programme (UNDP) senior management, government and others with evidence-based advisory services on national policies and priorities, cited the example of Zimbabwe that came out from severe economic doldrums to recovery.
While he hailed the CBN’s banking policies and implementation as effectual and reflective on commercial banks’ operations, he praised the Federal Government for increasing export earnings, as well as the laudable push by the Dangote Refinery and other local businesses, stating that they have reduced import dependency.
Giving further hint that no commercial bank is distressed in the country, he added that bank’s capitalisation policy brought about by government, was in order for them to meet N3.3 trillion overall target and N500 billion maximum for a commercial bank, in order to rejig the economy.
Oboh stated further that prices of goods and services were subsiding, inflation rate dropping and foreign reserve climbing high, as later corroborated by the Punch of 17th November, 2025, quoting the National Bureau of Statistics (NBS) that inflation had dropped to 16.05 per cent, and the Conclave News’ update where the CBN announced that foreign reserve has climbed to $46bn, highest for seven years.
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