Amanze ChinonyeGovernor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Thursday hosted the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, at the Bank’s headquarters in Abuja for talks on strengthening Nigeria’s trade and economic prospects.
The meeting, which took place on Thursday, also had in attendance the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and Nigeria’s Ambassador to the WTO, Amb. (Dr.) Adamu Abdulhamid.
Join our WhatsApp ChannelWhile specific outcomes of the closed-door discussions were not immediately disclosed, the engagement comes at a time when Nigeria is pursuing reforms to enhance export competitiveness, deepen value-added production, and position itself more strategically in the global marketplace.
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Okonjo-Iweala, a former Nigerian finance minister, has been a strong advocate for developing economies to dismantle trade barriers, modernise infrastructure, and boost non-oil exports. Cardoso has focused on stabilising the naira, improving foreign exchange liquidity, and creating an enabling environment for international trade and investment.
The inclusion of the trade minister and Nigeria’s WTO envoy signals a coordinated push between monetary policy, trade policy, and diplomatic engagement to maximise Nigeria’s benefits within the multilateral trading system. Such alignment could open up new markets for Nigerian products, make exports more competitive, and attract foreign investment intoity sectors.
Analysts note that the potential economic impacts are far-reaching: greater access to global markets for agricultural and manufactured goods, reforms to ease trade logistics, and stronger investor confidence in Nigeria’s economic direction. If these discussions translate into action, they could stimulate job creation, drive GDP growth, and accelerate the country’s shift from oil dependence toward a diversified, export-driven economy.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
