The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Governor of the Central Bank of Nigeria, Olayemi Cardoso, have expressed confidence that Nigeria’s inflation rate will decline to single digit despite prevailing economic challenges.

They stated that ongoing fiscal and monetary reforms by the Federal Government are beginning to yield results, noting that efforts to stabilise the macroeconomic environment are on track.

According to them, policy measures such as exchange rate adjustments, improved revenue mobilisation, and tighter monetary policies are expected to curb inflationary pressures in the coming months.

Edun emphasised the government’s commitment to disciplined spending and structural reforms aimed at boosting productivity and reducing the cost of doing business.

On his part, Cardoso reiterated the Central Bank’s resolve to maintain policies that support price stability, adding that coordination between fiscal and monetary authorities remains key to achieving sustainable economic growth.

Both officials acknowledged existing headwinds, including global economic uncertainties and domestic supply constraints, but maintained that Nigeria is on a steady path toward economic recovery and lower inflation.