The Central Bank of Nigeria (CBN) has mentioned that investor confidence in Nigeria’s financial system is strengthening, buoyed by ongoing reforms which have stabilized the naira, slowed inflation, and improved transparency in financial operations.
Talking at a press convention on the sidelines of the IMF and World Bank Annual Conferences in Washington D.C., the CBN Governor, Olayemi Cardoso, mentioned engagements with international buyers, score companies, and multilateral companions mirrored “a tone of confidence and constructive partnership” towards Nigeria’s reform trajectory.
In response to him, the Nigerian delegation has held intensive engagements with the IMF, World Bank, IFC, score companies, Fitch, Moody’s, and S&P, in addition to buyers, improvement companions, and different central banks.
“There’s broad recognition that Nigeria’s reforms are delivering outcomes: inflation is moderating, the trade fee has stabilized, and investor confidence is returning,” he mentioned.
Naira stability and robust reserves
Cardoso mentioned the naira continues to strengthen, with the hole between official and Bureau de Change (BDC) charges narrowing to beneath 2%, reflecting rising market confidence and decreased hypothesis.
- He revealed that Nigeria’s overseas reserves now exceed $43 billion, offering greater than 11 months of import cowl, supported by renewed capital inflows and elevated investor participation throughout asset courses.
- The CBN Governor famous that headline inflation fell for the sixth consecutive month in September to 18.02%, down from 20.12% in August, the bottom in three years.
- He added that core and meals inflation additionally eased, pushed by disciplined financial tightening, trade fee unification, and improved market transparency.
“These indicators present that the coverage changes undertaken over the previous two years are producing the appropriate outcomes.
“Our focus stays on sustaining stability, deepening reforms, and guaranteeing that macroeconomic features translate into higher livelihoods for Nigerians,” Cardoso famous.
Fiscal reforms, stronger collaboration
Cardoso, who was joined on the press briefing by Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasised that coordination between fiscal and financial authorities has strengthened confidence amongst improvement companions and international buyers.
- He mentioned fiscal reforms below the Tinubu administration, together with subsidy removing, expenditure rationalization, and improved income mobilization are serving to rebalance public funds and unlock sources for productive investments in infrastructure, training, and healthcare.
- In response to him, public revenues from the non-oil sector are additionally rising, offering a extra diversified base for fiscal stability, whereas decreased insecurity in oil-producing areas and focused incentives have attracted over $8 billion in new vitality investments, he added.
- As a part of the features of the World Bank/IMF Conferences, the Governor additional disclosed that Nigeria signed a Memorandum of Understanding with the Central Bank of Angola to reinforce financial cooperation and promote monetary stability inside Africa.
- Cardoso additionally introduced that Nigeria will formally assume the Chairmanship of the Intergovernmental Group of Twenty-4 (G-24) on November 1, 2025, a key physique representing growing nations inside the Bretton Woods system.
He mentioned the appointment displays “worldwide confidence in Nigeria’s management and reform credibility.”
“We return dwelling inspired by the arrogance reaffirmed in our mission. Our story is one among resilience of a nation aligning braveness with conviction to construct a extra aggressive, progressive, and inclusive financial system,” the CBN Governor said.
Extra insights
- Nairametrics earlier this week reported Nigeria’s assumption of the chairmanship of the G-24, taking up from Argentina as introduced in the course of the IMF/World Bank Annual Conferences
- The G-24, formally often known as the Intergovernmental Group of Twenty-4 on Worldwide Financial Affairs and Improvement, includes growing nations throughout Africa, Asia, Latin America, and the Caribbean.
- Established in 1971 as a chapter of the Group of 77, the G-24 goals to coordinate the positions of growing nations on worldwide financial and improvement finance points, guaranteeing their pursuits are represented in international negotiations.
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