CBN Governor Meets WTO Chief Okonjo-Iweala on Strengthening Nigeria’s Trade Outlook
Nigeria’s central bank governor and WTO chief met in Abuja to discuss trade reforms, competitiveness and global integration.
The talks focused on stabilizing Nigeria’s economy, boosting exports and strengthening industrial growth.
The head of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, held a high-level meeting with the Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, during her working visit to the Bank’s headquarters in Abuja on Thursday, August 14, 2025.
The closed-door session focused on Nigeria’s trade performance, global market integration, and strategies to improve the country’s competitiveness in international commerce. The event also included the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and Nigeria’s Ambassador to the World Trade Organisation, Amb. (Dr.) Adamu Abdulhamid. Their presence highlights how much the government values relationships and cooperation with other countries in trade.
Okonjo-Iweala, who has consistently urged African economies to take greater advantage of global trade opportunities, discussed ways Nigeria could leverage reforms in monetary and trade policy to attract investment, boost exports, and expand industrial production. The talks also highlighted Nigeria’s potential role in the African Continental Free Trade Area (AfCFTA), with emphasis on scaling up value-added exports rather than relying on raw commodities.
Cardoso, for his part, outlined the CBN’s ongoing efforts to stabilize the naira, curb inflation, and restore investor confidence. He stressed that monetary stability remains central to enhancing Nigeria’s position in global trade, noting that recent reforms were designed to ensure long-term resilience.
Dr. Oduwole added that the Ministry of Industry, Trade and Investment is working closely with the WTO and other international partners to harmonize trade regulations, support local manufacturers, and expand access to export finance. Ambassador Abdulhamid echoed the need for Nigeria to push for fairer trade rules at the multilateral level while strengthening its domestic capacity.
