Foreign Investors from Washington DC have expressed confidence in Nigeria’s ongoing economic reforms.
This was disclosed as various speakers at the Nigeria Investors Forum held on the sidelines of the 2025 WBG/IMF Annual Meetings in Washington D.C., yesterday, spoke.
According to them, the reform unified the foreign exchange markets and encouraged them.
The Governor of the Central Bank and leader of the Nigerian delegation to the meetings, Mr. Olayemi Cardoso assured investors that the government is committed to advancing reforms and unlocking opportunities for sustainable investment and growth.
Some top government officials were also present at the event including the Minister of State for Finance, Dr. Doris Uzoka-Anite.
Cardoso 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.
He further expressed optimism about Nigeria’s economic prospects, emphasizing that the government remains committed to strengthening the economy and promoting sustainable growth.
In his remarks, the CBN Deputy Governor on Policy, Mr. Mohammed Abdullahi, elaborated on the significant improvements in foreign exchange inflows, with monthly turnover in the forex market rising by 56.4% to $8.6 billion in 2025.
According to him, “Over the last two years, we’ve 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.”
Presenting also, the Special Adviser to the President on Finance and the Economy, Sanyade Okoli, reiterated the Federal Government’s commitment to achieving 7% economic growth by 2027-2028 through diversification and investment in infrastructure.
She said; “Our target is 7% by 2027-2028. When the IMF increased its forecast a week later, for 2025 we are forecasting 4% growth, rising to around 5% next year.
“In Q2, 13% of sectors grew above 7%. Our dependence on oil for total exports has reduced to about 57.5% in the first half of this year compared to last year, and oil now accounts for about 4% of GDP, down from 8% in 2021.”
The event was organized for foreign investors to interact on the commitment of President Bola Ahmed Tinubu-led Administration to creating an enabling environment for foreign investment.
