The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that Nigeria has attracted over $8 billion in new energy investments.
This is a clear signal that the country’s economic reforms and improved security are restoring investor confidence. The announcement came at the conclusion of the IMF/World Bank Annual Meetings, where Nigeria will assume the G-24 chairmanship on November 1, 2025.
Speaking to journalists, Cardoso attributed the surge in investments to improved security in oil-producing regions and consistent economic reforms over the past two years.
‘Reduced insecurity in oil-producing areas and targeted incentives have increased production and attracted over $8 billion in new energy investments,’ he said.
The CBN governor highlighted reforms including foreign exchange unification, monetary tightening, and fiscal consolidation, which he said are beginning to yield tangible results: moderating inflation, stabilising the exchange rate, and restoring investor trust.
Cardoso warned against ‘reform fatigue,’ urging continuity and policy consistency to consolidate gains. ‘We must continue to show results, because this is not a short dash, it is a marathon. As inflation begins to trend down, people must see and feel the benefits to know that better days lie ahead,’ he said.
