Foreign investors embrace reforms amid positive outlook — FG
Abdullateef Fowewe
A new chapter of economic optimism is unfolding in Nigeria, as foreign investors express strong confidence in government reforms, a statement shared on Thursday by the Ministry of Finance says.
This was highlighted during the Nigeria Investors Forum held in Washington D.C. on the sidelines of the 2025 WBG/IMF Annual Meetings.
“The government is committed to advancing reforms and unlocking opportunities for sustainable investment and growth,” stated Olayemi Cardoso, the Central Bank Governor and head of the Nigerian delegation, underscoring the country’s robust economic fundamentals.
The forum showcased Nigeria’s impressive economic indicators, including ”$43.4 billion in external reserves, the highest in five years,” according to Cardoso.
He assured investors of ongoing efforts to coordinate between the Central Bank and the Ministry of Finance to foster stability and clarity.
The Deputy Governor of the Central Bank, Mohammed Abdullahi, noted a “56.4% increase in monthly forex market turnover to $8.6 billion,” underscoring real progress in foreign exchange inflows that have “doubled since early 2023.”
Sanyade Okoli, the President’s Special Adviser on Finance and Economy, reaffirmed Nigeria’s goal of “7% economic growth by 2027-2028,” driven by diversification and infrastructural investments.
She highlighted that “oil’s contribution to total exports has halved, now making up about 57.5%, and only 4% of GDP.”
Doris Uzoka-Anite, Minister of State for Finance, attended to reinforce the government’s dedication to creating an enabling environment for foreign investment and sustainable development.
With these strategic reforms in motion, Nigeria is poised for “new opportunities for economic development and prosperity,” signaling a bright future ahead for stakeholders and investors alike.
“As the country charts its path towards a brighter future, investors and stakeholders alike are eager to be part of the journey,” said Mohammed Manga, Director of Information and Public Relations in the statement.
