Nigeria’s stability will attract long-term investment, Cardoso says

Central Bank of Nigeria Governor Olayemi Cardoso said at the 2026 IMF and World Bank Annual Meetings that macroeconomic stability, falling inflation and confidence in policy direction could attract long-term investment, increase production and create jobs. Headline inflation fell to 14.63% in September 2026 from about 34.8% at the end of 2024, and the central bank plans to maintain a sufficiently tight policy stance while targeting single-digit inflation over the medium term. Cardoso also said external reserves had risen above $55 billion, their highest level in 18 years, strengthening confidence in the naira and the country’s ability to withstand external shocks.