Nigeria’s economic outlook strengthens as foreign investors back reforms
Nigeria’s economic future is showing signs of optimism as foreign investors express confidence in the country’s ongoing reforms, according to government officials at the 2025 World Bank and IMF Annual Meetings in Washington D.C.
This was contained in a statement signed by Mohammed Manga, Director, Information and Public Relations, Federal Ministry of Finance, which noted that the Nigeria Investors Forum, held on the sidelines of the meetings, highlighted the Federal Government’s commitment to fostering an enabling environment for sustainable investment.
The statement reads partly:
“At the Nigeria Investors Forum held on the sidelines of the 2025 WBG/IMF Annual Meetings in Washington D.C., yesterday, the Central Bank Governor and leader of the Nigerian delegation to the meetings, Mr. Olayemi Cardoso assured investors of the government's commitment to advancing reforms and unlocking opportunities for sustainable investment and growth.”
“The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite was among the top government officials who joined Mr. Cardoso at the event, demonstrating the commitment of President Bola Ahmed Tinubu-led Administration to creating an enabling environment for foreign investment.”
“The Central Bank and the Ministry of Finance have been working hand in hand to ensure alignment, stability, and clarity for investors,” the statement added.
The CBN Governor expressed optimism about Nigeria’s growth trajectory and emphasised the government’s determination to strengthen the economy and promote sustainable development.
CBN Deputy Governor, Mohammed Abdullahi, cited a 56.4 per cent increase in monthly foreign exchange turnover, which rose to $8.6 billion in 2025.
“Over the last two years, we've really 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,” he said.
The Special Adviser to the President on Finance and the Economy, Sanyade Okoli, reaffirmed the Federal Government’s target of achieving seven per cent economic growth by 2027–2028 through diversification and investment in infrastructure.
She said: “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.
“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, the statement emphasised, reflects the Federal Government’s resolve to create a conducive climate for foreign investment and economic development, in line with the Ministry’s mandate.