BY NKECHI BAECHE-ESEZOBOR-WASHINGTON (D.C.)—Nigeria’s economy is gaining renewed global confidence as foreign investors signal optimism in the country’s ongoing reforms and growth trajectory.
Speaking at the Nigeria Investors Forum held on the sidelines of the 2025 World Bank Group/IMF Annual Meetings in Washington D.C. on Monday, Central Bank Governor Olayemi Cardoso, assured investors of the government’s steadfast commitment to advancing structural reforms and fostering a stable, transparent investment climate.
Cardoso, who led Nigeria’s delegation to the meetings, described the nation’s economic outlook as increasingly robust, citing improved fiscal coordination and rising foreign reserves.
“The Central Bank and the Ministry of Finance have been working hand in hand to ensure alignment, stability, and clarity for investors,” Cardoso said, noting that Nigeria’s external reserves have climbed to $43.4 billion, the highest in five years.
Also in attendance was the Minister of State for Finance, Dr. Doris Uzoka-Anite, whose participation underscored the Tinubu administration’s commitment to deepening investor confidence and supporting long-term economic transformation.
The CBN Deputy Governor, Mohammed Abdullahi, highlighted strong momentum in the foreign exchange market, reporting a 56.4% rise in monthly FX turnover to $8.6 billion in 2025.
“Over the last two years, we’ve focused on improving FX inflows into the economy, and we’ve seen a significant jump — average net flows between January 2023 and July have doubled,” Abdullahi said.
Reinforcing the administration’s vision, Special Adviser to the President on Finance and the Economy, Sanyade Okoli, said Nigeria remains on track to achieve 7% GDP growth by 2027–2028, driven by economic diversification and infrastructure investment.
“In Q2, 13% of sectors grew above 7%. Our dependence on oil exports has dropped to 57.5% in the first half of this year, while oil now accounts for about 4% of GDP, down from 8% in 2021,” Okoli explained.
Dr. Uzoka-Anite reaffirmed that the government remains focused on promoting sustainable growth, ensuring transparency in financial governance, and expanding opportunities for both local and foreign investors.
As Nigeria continues to strengthen its macroeconomic foundations through reform-driven policies, investors and development partners are increasingly viewing the country as a strategic growth destination in Africa.
