Cardoso assures investors of FG’s commitment to advancing reforms, unlocking opportunities
The governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso on Wednesday assured investors of the Federal Government’s commitment to advancing reforms and unlocking opportunities for sustainable investment and growth
Cardoso who is also the leader of the Nigerian delegation to the meetings stated this at the Nigeria Investors Forum held on the sidelines of the 2025 WBG/IMF Annual Meetings in Washington D.C.
He comments is coming in new era of economic growth and development that is unfolding in Nigeria as foreign investors demonstrate confidence in the country’s reforms.
The Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga statement posted on X stated that the Minister of State for Finance, Dr. Doris Uzoka-Anite was among the top government officials who joined Cardoso at the event,
She demonstrated the commitment of President Bola Ahmed Tinubu-led Administration to creating an enabling environment for foreign investment.
The CBN Governor, however, highlighted the country’s robust economic fundamentals, citing the $43.4 billion in external reserves, the highest level in five years.
“The Central Bank and the Ministry of Finance have been working hand in hand to ensure alignment, stability, and clarity for investors,” he said.
Cardoso expressed optimism about Nigeria’s economic prospects, emphasizing the government’s commitment to strengthening the economy and promoting sustainable growth.
The CBN Deputy Governor, Mohammed Abdullahi, elaborated on the significant improvements in foreign exchange inflows, with monthly turnover in the forex market rising by 56.4per cent to $8.6 billion in 2025.
Over the last two years, we’ve really focused a lot on improving FX flows into the economy, and we’ve seen a significant jump. Average net flows between January 2023 and July have doubled, he said.
The Special Adviser to the President on Finance and the Economy, Sanyade Okoli, reiterated the Federal Government’s commitment to achieving seven per cent economic growth by 2027-2028 through diversification and investment in infrastructure.
Our target is seven per cent by 2027-2028. When the IMF increased its forecast a week later, for 2025 we are forecasting four per cent growth, rising to around five per cent next year,” Okoli stated.
She added that in Q2, 13per cent of sectors grew above seven per cent. Our dependence on oil for total exports has reduced to about 57.5per cent in the first half of this year compared to last year, and oil now accounts for about four per cent of GDP, down from eight per cent in 2021.
Dr. Uzoka-Anite’s presence at the event demonstrates the Federal Government’s commitment to creating an enabling environment for foreign investment, in line with the Ministry’s mandate to drive economic growth and development.
With the government’s commitment to advancing reforms and promoting sustainable growth, Nigeria is poised to unlock new opportunities for economic development and prosperity. As the country charts its path towards a brighter future, investors and stakeholders alike are eager to be part of the journey.
