Nigeria’s Economic Outlook Brightens as Foreign Investors Reaffirm Confidence in Reforms

Nigeria’s economic prospects received a major boost as foreign investors expressed strong confidence in the ongoing reforms of the Federal Government at the Nigeria Investors Forum, held on the sidelines of the 2025 World Bank Group/IMF Annual Meetings in Washington D.C.
Leading the Nigerian delegation, the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, reaffirmed the government’s unwavering commitment to deepening reforms and unlocking sustainable investment opportunities that will drive inclusive economic growth.
The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, joined the CBN Governor at the high-level event, underscoring the determination of the President Bola Ahmed Tinubu Administration to foster an enabling environment that attracts and retains foreign investment.
Mr. Cardoso highlighted Nigeria’s strong macroeconomic fundamentals, including the rise in external reserves to $43.4 billion — the highest in five years.
Director of Information and Public Relations. Mohammed Manga in a statement quoted Cardoso to have noted that the CBN and the Ministry of Finance have been working in close coordination to ensure greater alignment, transparency, and stability in economic policy, thereby enhancing investor confidence.
“Nigeria’s economic fundamentals remain robust, and the government is fully committed to strengthening the economy and sustaining growth through sound policy coordination and fiscal discipline,” he said.
Also speaking at the forum, the CBN Deputy Governor, Mr. Mohammed Abdullahi, revealed that foreign exchange inflows have improved significantly, with monthly turnover in the forex market increasing by 56.4% to $8.6 billion in 2025.
“Over the last two years, we have focused extensively on improving FX flows into the economy. Average net inflows between January 2023 and July 2025 have doubled,” he stated.
The Special Adviser to the President on Finance and the Economy, Ms. Sanyade Okoli, outlined the government’s growth targets, reiterating the administration’s ambition to achieve 7% GDP growth by 2027–2028 through diversification, infrastructure investment, and private sector participation.
“Our target is 7% by 2027–2028. Following the IMF’s revised outlook, we project 4% growth in 2025 and around 5% in 2026,” she said.
“In Q2, 13% of sectors grew above 7%. Our dependence on oil for total exports has dropped to 57.5% in the first half of this year, compared to last year, while oil’s contribution to GDP has declined from 8% in 2021 to about 4%.”
Dr. Uzoka-Anite’s participation, the statement added, reflects the Federal Government’s commitment to nurturing a transparent, predictable, and investor-friendly economic environment in line with the Ministry’s mandate to drive sustainable development.
With policy coherence, fiscal discipline, and targeted reforms, Nigeria is set to unlock fresh opportunities for growth and prosperity, reaffirming its position as one of Africa’s most promising investment destinations.