Nigeria’s stability will attract long-term investment — Cardoso

By Babajide Komolafe, Economy Editor Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, has said sustained macroeconomic stability, declining inflation and confidence in policy direction will attract long-term investment into Nigeria, boosting production and creating jobs. Cardoso, who spoke alongside the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedeleat the 2026 IMF/World Bank Annual Meetings said Nigeria’s economic recovery was creating opportunities to deepen investor confidence and mobilise capital for productive activities.

According to him, “The global economy has shown resilience in the face of fragmentation and significant headwinds, but the environment remains fragile. What is important for Nigeria is to sustain the progress we have made and create the conditions for private investment to flourish.” He said the CBN would continue to pursue policies aimed at restoring price stability, strengthening the foreign exchange market and improving the economy’s capacity to withstand external shocks. “We are focused on price stability.

Our decisions are data-dependent, and we will continue to communicate clearly so that businesses, households and investors understand the direction of monetary policy,” Cardoso said. The governor stated that the decline in inflation provided an opportunity to recalibrate monetary policy while maintaining a sufficiently tight stance to consolidate the gains achieved. “Inflation has come down significantly from the levels we saw previously.

Headline inflation was 14.63 per cent in September 2026, compared with about 34.8 per cent at the end of 2024. That is an important development, but we must ensure that the decline is sustained,” he said. He added that lower inflation would help businesses plan more effectively, improve investment decisions and support production and employment.

“When inflation is high and unpredictable, businesses find it difficult to plan. It affects their costs, their pricing decisions and their willingness to invest. Our objective is to achieve price stability that supports sustainable growth and allows businesses to make longer-term decisions,” he said.

Cardoso said the CBN’s medium-term objective remained the achievement of single-digit inflation, stressing that monetary policy would be guided by economic conditions rather than pressure to follow the decisions…