Nigeria attracts $8bn energy investment

Nigeria has secured over $8 billion in new energy investments, signaling renewed global confidence in its reform-driven economic agenda, the Federal Ministry of Finance announced on Friday.

The ministry, in a statement from the IMF/World Bank Annual Meetings in Washington, DC, said the inflows reflect international endorsement of Nigeria’s ongoing fiscal and structural reforms under President Bola Tinubu’s administration.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, who led the Nigerian delegation, noted that the country’s economic fundamentals are strengthening, driven by disciplined fiscal management and consistent policy implementation.

He highlighted recent economic gains, including declining inflation, exchange rate stability, and an increase in foreign reserves — now exceeding $43 billion.

“We are moving in the right direction toward macroeconomic stability, fiscal discipline, and inclusive growth,” Cardoso said.

He added that investor interest, especially in the energy sector, is a testament to growing international recognition of Nigeria’s reform progress.

Minister of State for Finance, Dr. Doris Uzoka-Anite, praised the collaborative effort of the Nigerian delegation, saying the meetings reinforced the country’s commitment to delivering on its economic priorities.

“We return home with renewed vigour and determination to deliver on our national goals,” she said.

Uzoka-Anite also announced that Nigeria’s assumption of the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) marks a significant milestone in the nation’s influence in global economic governance.

The delegation included top officials from the executive and legislative arms, alongside key policymakers and agency heads who participated in discussions with global financial leaders on reforms to drive sustainable and inclusive growth.

With increased investor confidence, improved macroeconomic coordination, and stronger fiscal discipline, Nigeria appears set to sustain its path toward stability, investment growth, and shared prosperity.