Nigeria has attracted over $8 billion in new energy investments, signaling renewed investor confidence driven by economic reforms and improved security, according to Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso.
Speaking after the IMF/World Bank Annual Meetings, Cardoso said policy measures such as the unification of the foreign exchange market, monetary tightening, and fiscal discipline are helping stabilize the economy and restore investor trust. He noted that lower insecurity in oil-producing areas and targeted incentives have boosted production and investment inflows.
Cardoso urged consistency in policy execution, warning against “reform fatigue.” He stressed that sustained reforms are essential for lasting growth and for citizens to feel the benefits of economic recovery.
He also highlighted the CBN’s collaboration with fintech operators to foster innovation and inclusive growth. “We are working closely with fintech to address challenges and promote long-term stability in the sector,” he said.
Cardoso described Nigeria’s economy as entering a new phase of growth, noting improvements in inflation, exchange rate stability, and GDP performance. “The economy is stable, and growth has improved from 3% to 4%. We’re on the right track, but we must stay committed,” he added.
He further announced that Nigeria will chair the G-24 group of developing nations from November 1, 2025, enhancing its influence in shaping global economic policies.
