Governor Olayemi Cardoso of the [Central Bank of Nigeria](https://www.cbn.gov.ng) announced at the 2026 IMF/World Bank Annual Meetings that the country’s recent macro‑economic stability, coupled with a sharp decline in inflation, is expected to draw long‑term investors, spur production and generate employment opportunities.
He spoke alongside Finance Minister Taiwo Oyedele, who also serves as Coordinating Minister of the Economy, emphasizing that Nigeria’s recovery is opening doors for deeper investor confidence and capital mobilisation for productive ventures.
**What does the global outlook mean for Nigeria?**
Cardoso noted that while the world economy has shown resilience despite fragmentation and significant headwinds, the environment remains fragile. He stressed that Nigeria must sustain its progress and create conditions that allow private investment to thrive.
**How is the CBN addressing price stability?**
The governor affirmed that the bank will keep pursuing policies aimed at restoring price stability, strengthening the foreign‑exchange market and enhancing the economy’s ability to absorb 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,” he said.
**What impact has the fall in inflation had?**
Cardoso highlighted that headline inflation dropped to 14.63 % in September 2026 from roughly 34.8 % at the end of 2024. He warned that the decline must be sustained, adding that lower inflation enables businesses to plan better, make sound investment decisions and support production and employment.
**Why does the CBN aim for single‑digit inflation?**
He reiterated that the medium‑term goal remains achieving single‑digit inflation, with monetary policy guided by Nigeria’s own economic conditions rather than mimicking other central banks. “We cannot simply copy what other central banks are doing. Our decisions must reflect Nigeria’s circumstances, the structure of our economy and the evidence before us,” he explained.
**How is foreign‑exchange stability being improved?**
Cardoso reported that external reserves have risen above $55 billion – the highest level in 18 years – providing a stronger buffer against external shocks and bolstering confidence in the naira. He also mentioned efforts to boost formal diaspora remittances, which are now approaching $1 billion per month, as a key source of foreign‑exchange earnings.
**What steps are being taken to mobilise long‑term capital?**
The governor called for deeper capital markets and more opportunities for long‑term investment, stressing that stability gives investors confidence that rules will remain predictable. He said the CBN will enhance collaboration with development finance institutions such as the Africa Finance Corporation to translate stability into financing for the real economy.
**How has the banking sector contributed to stability?**
Cardoso noted that the recent recapitalisation exercise saw banks raise about ₦4.65 trillion in fresh capital, with over 70 % sourced from domestic investors, signalling strong local commitment. He said this stronger capital base will improve the resilience of the financial system, provided banks remain well‑governed and capable of supporting economic activity.
**What is the ultimate goal of these policies?**
The governor concluded that the overarching aim is to turn macro‑economic stability into higher investment, stronger production and more job opportunities for Nigerians, ensuring that the economy can thrive under changing conditions.