Nigeria: Edun, Cardoso Strengthen Policy Synergy as Nigeria’s Inflation Eases

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has met with the Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, in a strategic move to deepen coordination between fiscal and monetary policy authorities as the country records a slight but encouraging deceleration in inflation.

According to a statement from the Ministry of Finance, the meeting—held at the CBN headquarters in Abuja—comes on the heels of new data from the National Bureau of Statistics (NBS), which revealed that headline inflation moderated to 22.97% in May 2025. This marks the first easing of inflationary pressures in several months, offering cautious optimism for policymakers and investors alike.

The high-level engagement focused on aligning economic strategies to consolidate the emerging macroeconomic stability and channel it toward broad-based economic growth. Both sides reportedly reviewed ongoing policy reforms and explored ways to strengthen price stability, enhance investor confidence, and boost private sector participation.

“The collaboration reflects a growing consensus that a unified fiscal-monetary policy approach is essential for stabilising Nigeria’s economic environment and sustaining the gains of recent reforms,” the statement noted.

The meeting also signaled renewed commitment from both the fiscal and monetary sides to jointly advance Nigeria’s medium- to long-term economic recovery agenda, with particular emphasis on restoring macroeconomic confidence, improving external reserves, and fostering inclusive development.

This dialogue follows recent government efforts to rebalance the economy through subsidy reforms, exchange rate harmonization, and improved revenue mobilization—policies that have had far-reaching implications on inflation, currency stability, and public sector spending.

As inflation shows early signs of slowing, the focus is now shifting toward ensuring that these gains are translated into real economic outcomes, including lower cost of living, job creation, and increased investor inflows.