Nigeria Seeks Long-Term Investment as Economic Reforms Strengthen Global Confidence

Nigeria’s Federal Government has reaffirmed that sustainable economic growth will depend on stronger collaboration with private investors, particularly those willing to commit long-term capital.

Speaking at the Africa Capital Forum in London, Mrs. Sanyade Okoli, Special Adviser to the President on Finance and the Economy, emphasised that government resources alone are insufficient to drive the country’s development ambitions. She represented the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the event.

The forum, themed “From Stabilisation to Capital Mobilisation,” was jointly organised by the Central Bank of Nigeriaand the UK Foreign, Commonwealth and Development Office, alongside President Bola Tinubu’s state visit to the United Kingdom.

Okoli highlighted the need for “patient” or “sticky” capital—long-term equity investments capable of supporting critical sectors and driving inclusive growth. She noted that while reforms are laying a solid foundation, private sector participation remains essential to unlocking Nigeria’s full economic potential.

Reinforcing this position, Muhammad Abdullahi, Deputy Governor at the Central Bank, stated that ongoing reforms have significantly improved macroeconomic stability. He pointed to stronger foreign reserves—now exceeding $50 billion—reduced exchange rate volatility, and a gradual decline in inflation as indicators of progress.

“We have achieved stability, but we remain cautious,” Abdullahi noted, signalling the apex bank’s commitment to maintaining disciplined monetary policy.

Similarly, Philip Ikeazor, Deputy Governor for Financial System Stability, stressed that current reforms are designed for long-term continuity. According to him, the involvement of multiple stakeholders reduces the likelihood of policy reversals, thereby strengthening investor confidence.

International stakeholders at the forum expressed optimism about Nigeria’s reform trajectory. Jonny Baxter reaffirmed the United Kingdom’s commitment to supporting Nigeria, particularly in banking and capital markets, while emphasising the importance of translating renewed investor interest into sustainable capital inflows.

Also speaking, Odile Renaud-Basso, President of the European Bank for Reconstruction and Development, highlighted Nigeria’s strong growth potential, citing its population, technological adoption, and expanding innovation ecosystem.

Participants, including development financiers, fintech leaders, and banking executives, widely acknowledged that recent reforms—such as foreign exchange market unification and banking sector recapitalisation—have strengthened confidence in Nigeria’s financial system.

Industry leaders including Segun Alebiosu, Oliver Alawuba, and Miriam Olusanya echoed this sentiment, noting that improved stability is enabling banks to support larger and more complex investments across the economy.

Under the leadership of Olayemi Cardoso, Nigeria has implemented wide-ranging reforms over the past two years, contributing to a drop in inflation from previous highs, increased foreign reserves, and improved market transparency.

With growing international confidence and a clear policy direction, the Africa Capital Forum aims to position Nigeria as a competitive destination for global capital—while strengthening ties between the country, London, and the broader international investment community.