•Cardoso Reports Increased Investor Confidence, Stronger Reserves, and Commitment to Single-Digit Inflation.
By: OBSERVERS TIMES

WASHINGTON D.C. – Following productive engagements at the 2025 IMF/World Bank Spring Meetings, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso delivered an optimistic assessment of Nigeria’s economic trajectory. Speaking at a Nigerian press briefing, Governor Cardoso emphasized the significant strides made in bolstering macroeconomic stability and attracting international confidence.
“This past week has been one of highly productive engagements with global financial leaders, investors, and members of the Nigerian diaspora,” stated Governor Cardoso. He highlighted the Meetings as a crucial platform to showcase Nigeria’s “bold economic reforms” and explore further measures for sustainable growth.
The Governor pointed to the strengthening of Nigeria’s monetary buffers over the past 18 months, which he believes has positioned the nation to better weather external economic shocks. This progress has demonstrably boosted investor confidence, with prominent figures in the global financial system acknowledging Nigeria’s renewed standing as an attractive investment destination. Reinforcing this positive outlook, Governor Cardoso noted Fitch’s recent upgrade of Nigeria’s credit outlook, signifying international recognition of the country’s “disciplined reforms.”
Addressing the critical issue of inflation, Governor Cardoso affirmed the CBN’s unwavering commitment to bringing it down to single digits in the medium term. “We recognize that inflation remains the most disruptive force to the economic welfare of Nigerians,” he stated, emphasizing that the current policy stance is firmly focused on restoring price stability and protecting household purchasing power.
Providing concrete evidence of economic improvement, Governor Cardoso announced that Nigeria’s foreign reserves now exceed $38 billion, providing nearly ten months of import cover. Furthermore, the nation recorded a balance of payments surplus of $6.83 billion in 2024, the strongest in many years, driven by increased exports and renewed capital inflows.
Investor sentiment, according to the Governor, has been “overwhelmingly positive,” reflecting a growing alignment with Nigeria’s economic direction. He noted that Nigeria is increasingly being recognized as a “rising economic force.”
Regarding the banking sector, Governor Cardoso reported that the recapitalization efforts are “well underway, with strong momentum and stakeholder alignment.” This initiative aims to ensure Nigerian banks are better equipped to support the real economy with greater scale and stability.
In his closing remarks, Governor Cardoso offered reassurance to Nigerians, acknowledging that while the reforms are challenging, they are yielding tangible results. “We have moved from a position of vulnerability toward one of growing strength, and our economic trajectory is beginning to turn positive,” he concluded, expressing a renewed commitment to building on the gains in stability and resilience.