Foreign Investors Express Confidence in Nigeria’s Reform Agenda

Foreign investors have expressed confidence in Nigeria’s ongoing economic reforms despite the current downturn. At the Nigeria Investors Forum held alongside the 2025 World Bank/IMF Annual Meetings in Washington D.C., speakers said they were encouraged by the government’s efforts to unify the foreign exchange market and improve transparency.

Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, who led Nigeria’s delegation, assured investors of the government’s commitment to sustaining reforms and creating more opportunities for long-term investment and growth. He noted that Nigeria’s external reserves had risen to $43.4 billion — the highest in five years — reflecting stronger economic fundamentals.

“The Central Bank and the Ministry of Finance are working closely to ensure alignment, stability, and clarity for investors,” Mr. Cardoso said. He added that the government remains focused on strengthening the economy and promoting sustainable growth.

The Minister of State for Finance, Dr. Doris Uzoka-Anite, joined Mr. Cardoso at the event, which highlighted the Tinubu administration’s efforts to attract and support foreign investment. Her presence underscored the growing cooperation between fiscal and monetary authorities in driving economic stability.

CBN Deputy Governor for Policy, Mr. Mohammed Abdullahi, said foreign exchange inflows had improved significantly, with monthly market turnover rising by 56.4% to $8.6 billion in 2025. He added that average net inflows between January 2023 and July 2025 had doubled due to policy adjustments aimed at boosting investor confidence.

Special Adviser to the President on Finance and the Economy, Mrs. Sanyade Okoli, said the government aims to achieve 7% economic growth by 2027–2028 through diversification and infrastructure investment. She explained that oil now accounts for only 4% of GDP, down from 8% in 2021, showing progress in reducing dependence on oil exports.

Dr. Uzoka-Anite’s participation at the forum reaffirmed the government’s determination to create a stable and transparent environment for investors. The officials collectively emphasized that the administration remains focused on fostering sustainable growth and attracting global investment into Nigeria’s economy.