Foreign investors have expressed a strong surge of confidence in Nigeria’s ongoing economic reforms, despite the country’s recent downturn.

Speaking at the Nigeria Investors Forum, held on the sidelines of the 2025 World Bank Group/IMF Annual Meetings in Washington D.C., various speakers confirmed they were highly encouraged by the government’s reforms, particularly the unification of the foreign exchange markets, which has provided greater clarity and transparency in the sector.

Mr. Olayemi Cardoso, the Central Bank Governor and leader of the Nigerian delegation to the meetings, assured the investors of the government’s unwavering commitment to advancing these reforms and unlocking substantial opportunities for sustainable investment and growth across the economy.

The event, specifically organized to facilitate interaction between top government officials and foreign investors, underscored the commitment of the President Bola Ahmed Tinubu-led Administration to creating a favorable environment for foreign investment.

Among the key government officials who joined Mr. Cardoso was the Minister of State for Finance, Dr. Doris Uzoka-Anite. Governor Cardoso highlighted the country’s solid economic fundamentals, citing that external reserves have reached $43.4 billion, the highest level recorded in five years.

Emphasizing the necessary collaboration at the top, he stated: “The Central Bank and the Ministry of Finance have been working hand in hand to ensure alignment, stability, and clarity for investors,” while also expressing optimism about Nigeria’s economic prospects and the commitment to strengthening the economy.

Elaborating on the recent structural improvements, the CBN Deputy Governor on Policy, Mr. Mohammed Abdullahi, highlighted significant improvements in foreign exchange inflows, noting that the monthly turnover in the forex market has risen by 56.4% to $8.6 billion in 2025.

Abdullahi provided data illustrating the positive impact of the reforms on liquidity, saying: “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.”

Mrs. Sanyade Okoli, the Special Adviser to the President on Finance and the Economy, reiterated the Federal Government’s firm commitment to achieving 7% economic growth by 2027-2028 through diversification and robust investment in infrastructure.

She presented the government’s growth trajectory, confirming: “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.”

Mrs. Okoli further detailed the success of the government’s diversification efforts, adding that the non-oil sector is demonstrating strong resilience.

She stated: “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.”

Dr. Uzoka-Anite’s presence at the forum served to publicly demonstrate the enhanced synergy between the fiscal and monetary authorities, showcasing the Federal Government’s commitment to creating the essential enabling environment required for foreign investment and the successful pursuit of ambitious economic growth and development targets.