Nigeria Attracts $8 Billion in New Energy Investments as Economic Reforms Bolster Confidence
Nigeria has secured over $8 billion in new energy investments, reflecting renewed investor confidence fuelled by ongoing economic reforms and improved security conditions, according to the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso.
Speaking at the conclusion of the IMF/World Bank Annual Meetings, Cardoso revealed that the country’s fiscal and monetary reforms, particularly the unification of the foreign exchange market, monetary tightening, and fiscal consolidation, are driving stability and restoring trust among local and international investors.
“Reduced insecurity in oil-producing regions and targeted incentives have increased production and attracted over $8 billion in new energy investments,” Cardoso stated. He added that consistent policy execution over the past two years has helped moderate inflation, stabilise the naira, and improve Nigeria’s economic fundamentals.
The CBN governor cautioned against “reform fatigue,” emphasizing that sustained policy implementation is vital to preserving the recent gains. “We must continue to show results because this is not a short dash, it’s a marathon. As inflation begins to trend down, people must see and feel the benefits to know that better days lie ahead,” he noted.
Fintech and Growth Outlook
Cardoso also highlighted the CBN’s collaboration with Nigeria’s expanding fintech ecosystem, noting that engagement between regulators and innovators remains essential for long-term, inclusive growth. “We’ve held several discussions with fintech operators to understand their challenges and develop a roadmap for sustainable progress,” he said.
Reflecting on Nigeria’s economic trajectory, the CBN chief described the economy as entering a new phase of growth following a period of relative stability. “Nigeria is in a relatively good place. The economy is stable, I don’t think anyone can deny that. In the last quarter, we saw growth improve from three to 4%. Inflation is easing, and while we are on a good path, sustaining it requires staying the course,” he said.
Global Context and Leadership
Cardoso announced that Nigeria will assume the chairmanship of the G-24 group of developing nations on 1 November 2025, positioning the country to play a stronger role in shaping global development policies. He also pointed out that the global economic focus on growth, particularly with the United States assuming the G20 chairmanship, aligns with Nigeria’s current direction.
“We are now in the right place for growth, and I expect support from various economies, including the Americas. I see this as a very positive sign,” he concluded.
Conclusion
The $8 billion inflow marks a strong signal of investor confidence in Nigeria’s reform-driven economic framework. With continued policy consistency, strengthened security, and growing engagement across sectors such as fintech and energy, Nigeria’s economic outlook appears to be moving from stabilization toward sustainable growth.
