I’m Not Responsible For Nigeria’s Economic Hardship – Cardoso

Nigeria’s Central Bank Governor, Olayemi Cardoso, has found himself standing between hope and controversy as the nation grapples with economic turmoil that has thrown the majority of the citizenry into unprecedented hardship.

Despite the hardship faced by many, Cardoso remains optimistic about Nigeria’s economic prospects.

In an exclusive interview, Cardoso highlighted a recent $1.8 billion inflow into the Nigerian economy as a positive sign of international confidence and potential for recovery to alleviate the hardship in the land. He credited government and CBN reforms for stabilizing prices and exchange rates to foster growth.

While Cardoso sees progress, critics, including religious and political figures like the Catholic Bishops of Nigeria and former Vice President Atiku Abubakar, express concerns over rising hardship and policy effectiveness.

Defending the CBN’s role, the governor attributes economic challenges to broader structural issues and global economic contexts. He pledges to prioritize price and exchange rate stability in 2024 to protect Nigerians’ livelihoods and spur recovery.

Despite criticism, Cardoso remains focused on transparent market systems and increasing foreign exchange inflow to shift Nigeria from a consumer to a producing nation, aiming for a brighter economic future.

Rather than seeing himself as the cause of the hardship, Cardoso is rather positioning himself to be reckoned by history as the one who alleviated the unprecedented problems Nigeria has had to face

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