Improved Security and Economic Reforms Attract $8 Billion in Energy Investments — CBN Governor Cardoso
Nigeria’s drive toward economic stability is paying off, with more than $8 billion in new energy investments flowing into the country, according to the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso. Speaking after the 2025 IMF/World Bank Annual Meetings in Washington, Cardoso said the inflow reflects renewed global confidence in Nigeria’s economic direction and improved security across key oil-producing regions.
Cardoso attributed the surge to consistent macroeconomic reforms and targeted measures implemented over the last two years. “Reduced insecurity in oil-producing areas and targeted incentives have increased production and attracted over $8 billion in new energy investments,” he told journalists. The CBN chief noted that reforms such as foreign exchange unification, monetary tightening, and fiscal consolidation are beginning to yield tangible outcomes — stabilizing the naira, moderating inflation, and restoring investor trust.
The CBN governor cautioned against “reform fatigue,” stressing that sustaining momentum will be crucial to consolidating the gains achieved so far. “We must continue to show results because this is not a short dash; it’s a marathon,” he said. “As inflation begins to trend down, people must see and feel the benefits to know that better days lie ahead.” He added that the CBN remains focused on balancing stability with growth, ensuring that Nigerians experience the impact of economic recovery firsthand.
In a nod to the financial technology sector, Cardoso revealed that the CBN is deepening engagement with fintech companies, working to strike a balance between innovation and regulation. “We’ve had several engagements with fintech operators to understand their challenges and develop a roadmap for sustainable and inclusive growth,” he explained, emphasizing that responsible innovation is key to expanding access and financial inclusion.
Looking ahead, Cardoso expressed optimism about Nigeria’s economic outlook, highlighting recent improvements in GDP growth and inflation. “Nigeria now is in a relatively good place. The economy is stable, and growth is picking up,” he said. “We are in the right place for growth, and with continued policy discipline and support from global partners, I am confident we can sustain this trajectory.” Nigeria is also set to assume the chairmanship of the G-24 on November 1, 2025 — a move expected to strengthen its influence in global economic discussions.