The Central Bank of Nigeria CBN says over eight billion dollars in new energy investments have flowed into the country reflecting growing investor confidence under the ongoing economic reforms of President Bola Tinubu.
CBN Governor Olayemi Cardoso said the development is a result of improved security in oil producing areas and sustained policy actions in the last two years. He disclosed this after the IMF World Bank Annual Meetings in Washington DC.
Cardoso explained that reforms such as exchange rate unification and fiscal consolidation are stabilising the economy while reducing inflation and restoring investor trust.
He reaffirmed the apex bank's commitment to policy consistency warning against reform fatigue that could erode recent gains.
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Meanwhile the Minister of State for Finance Doris Uzoka Anite announced that Nigeria has joined a new agricultural innovation programme led by the World Bank. The initiative will use blended finance to scale agribusiness projects particularly those led by women and young entrepreneurs.
She said the move aligns with Nigeria's drive to expand job creation and support MSMEs through technology and agribusiness innovation.
Cardoso also noted the CBN's engagement with fintech companies to promote inclusion and responsible innovation within the financial system.
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