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CBN says stronger monetary-fiscal coordination will help translate economic stability into improved household and business conditions.
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Tinubu says stability is only the foundation, with jobs, investment, production and prosperity now the next targets.
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Bankers and the World Bank call for greater access to affordable credit to ensure reforms translate into broader economic gains.
September 09, (THEWILL) — The Central Bank of Nigeria has assured Nigerians that improving macroeconomic conditions will soon begin to translate into better outcomes for households and businesses as monetary and fiscal reforms take stronger effect.
CBN Governor, Olayemi Cardoso, represented by Deputy Governor, Economic Policy Directorate, Philip Ikeazor, gave the assurance on Tuesday at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja.
Ikeazor acknowledged concerns that improvements in key economic indicators had yet to fully reflect in living standards and business conditions. He said closer coordination between monetary and fiscal authorities was helping create the conditions for the gains from economic stabilisation to reach Nigerians.
CBN Expects Fiscal Reforms To Deliver Gains
According to Ikeazor, reforms being implemented by the fiscal authorities would soon begin producing results and complement measures taken by the apex bank.
He cited initiatives such as the National Single Window, alongside broader macroeconomic reforms, as measures expected to improve efficiency and support economic activity.
“I can assure you, all watchers of the economy have acknowledged the macroeconomic stability we have today. But the question that remains on everyone’s mind is, when will the common man feel the full benefits? That is on its way”, he said.
Ikeazor also described the current level of monetary and fiscal coordination as unprecedented, while crediting President Bola Tinubu with allowing the CBN to focus on its statutory mandate.
Tinubu: Stability Is Not Prosperity
President Tinubu, represented by Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, acknowledged the gap between macroeconomic stability and improvements in living standards.
“Stability has returned. Credibility is rising. Prosperity is coming”, Tinubu said, stressing that the next phase must convert stability into investment, production, jobs and improved living standards.
He said the banking and financial services sector would have an important role in financing the real economy and supporting that transition.
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Bankers Seek Wider Access To Affordable Credit
CIBN President and Chairman of Council, Dele Alabi, said Nigeria had recorded significant macroeconomic improvements but had not reached its final destination.
He urged policymakers to ensure that the gains cascade to households, individuals and businesses, particularly micro, small and medium-sized enterprises facing high operating costs, infrastructure constraints and limited access to finance.
Similarly, Oliver Alawuba, Chairman of the Body of Bank CEOs and Group Managing Director of United Bank for Africa, cited Nigeria’s 4.43 percent second-quarter 2026 GDP growth, easing inflation and stronger external reserves as signs that the economy was moving in the right direction.
However, he said these were “signposts” rather than the destination, urging recapitalised banks to channel more affordable credit into MSMEs, agriculture, manufacturing, infrastructure and exports.
The World Bank also highlighted the credit gap, noting that domestic private-sector credit remained around 13 percent of GDP, while MSMEs received only about one per cent of credit.
World Bank Country Director for Nigeria, Mathew Verghis, represented by Senior Private Sector Specialist Bertine Kamphuis, said job creation should become a major test of whether reforms are delivering broad-based economic gains.
The message from the conference was clear: Nigeria’s macroeconomic stabilisation must now translate into stronger businesses, more jobs and improved household welfare.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
