CBN, Finance Ministry launch joint strategy to curb inflation, achieve 7% GDP growth

The Central Bank of Nigeria (CBN) and the Federal Ministry of Finance have unveiled a new joint economic framework, the Dis-Inflation and Growth Acceleration Strategy (DGAS), aimed at achieving at least 7% annual GDP growth and reducing inflation to single digits within two years.

The strategy, presented on Tuesday at the 2025 CBN Executive Seminar in Abuja, integrates monetary and fiscal reforms to restore stability, drive productivity, and boost investor confidence in Nigeria’s economy.

It also targets the creation of about five million jobs and a minimum of 7% non-oil GDP growth by 2027.

CBN Governor Olayemi Cardoso said ongoing reforms — including fiscal consolidation and foreign exchange liberalisation — have created short-term challenges but are crucial for long-term sustainability.

“This strategy provides a roadmap for deepening reforms, strengthening policy coordination, and guiding the economy toward stability and inclusive growth,” he said.

Minister of State for Finance, Dr. Doris Uzoka-Anite, described DGAS as “the second wave of reforms” following earlier policies on forex and energy.

“The first wave restored market integrity and investor confidence,” she said.

“This second phase will unlock productivity, expand domestic output, and create inclusive prosperity for Nigerians.”

According to Uzoka-Anite, DGAS focuses on tackling inflation from the supply side by lowering structural costs, boosting local production, and reducing import dependency.

It introduces a single-window implementation platform that will align fiscal measures with CBN’s credit and foreign exchange interventions to promote industrial growth, exports, and job creation.

“DGAS bridges fiscal intent with monetary execution,” she explained.

“It restores coherence between policy, capital, and productivity — moving from fragmented efforts to a unified national growth strategy.”

The blueprint is anchored on nine pillars, including capital mobilisation, financial innovation, energy expansion, industrial decarbonisation, technology infrastructure, youth empowerment, consumer credit growth, and policy coordination.

Both the CBN and the Finance Ministry will jointly monitor progress through measurable key performance indicators and a shared compliance framework.

Officials say the initiative marks a new phase in Nigeria’s economic management, shifting from fragmented policy actions to coordinated, data-driven implementation designed to deliver sustained growth, stability, and inclusive prosperity.