LAGOS — Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has expressed confidence that foreign investors will commit huge sums to Nigeria’s economy following restored stability
“We sit in a particular place where we see enormous amounts of interest from outside, they watch very keenly. You will hear huge investments being made into our economy as a result of the stability that has been accomplished,” Cardoso said at a BusinessDay Conference in Lagos on Thursday.
His optimism aligns with recent economic gains. External reserves reached approximately $52 billion by July 2026. Inflation has declined from over 34% at its peak to around 15.91%.
Foreign capital inflows have accelerated. Total inflows hit $23.22 billion in 2025 and $10.37 billion in the first quarter of 2026. FDI doubled to about $4 billion last year, largely in oil and gas
Reforms introduced since 2023 underpin the progress. These include foreign exchange unification, clearance of FX backlogs, and banking recapitalization that raised N4.65 trillion
Cardoso has received international recognition for these efforts. He was named Central Bank Governor of the Year 2026. Multilateral institutions have noted improved market confidence and policy credibility
Yet everyday challenges remain. High food costs and naira pressures continue to affect households. Portfolio investments dominate inflows, raising concerns about volatility
Governor Cardoso’s comments reinforce a narrative of turning the corner after inherited distortions. Real impact will depend on translating stability into visible, inclusive growth. As officials project continued disinflation and growth in 2026.
