The Federal Government has urged global investors and financiers to take advantage of investment opportunities in Nigeria, insisting that recent economic reforms have stabilised the economy and laid the foundation for sustained growth.
Speaking at the 7th African Emerging Markets Forum (EMF) hosted by the Central Bank of Nigeria (CBN) in Abuja on Thursday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the administration had implemented some of the most far-reaching economic reforms in Nigeria’s recent history.
According to him, the reforms include the unification of the foreign exchange market, improved transparency in trade finance and cross-border transactions, fiscal consolidation through the removal of fuel subsidies, and a comprehensive overhaul of the tax system.
Oyedele said the tax reforms have simplified the fiscal framework by eliminating nuisance taxes, easing the burden on small businesses and low-income earners, expanding VAT input credits for manufacturers, removing withholding tax on manufacturing activities, and exempting essential goods and services from VAT to protect vulnerable households.
He argued that investors respond to credible economic policies rather than political rhetoric, pointing to what he described as strong economic indicators.
According to the minister, foreign capital inflows have risen significantly, the Nigerian capital market is the world’s best-performing market in 2026 so far, while the country’s Gross Domestic Product (GDP) grew by 3.89 per cent in the first quarter of the year.
He also said the non-oil sector expanded by 3.94 per cent during the same period, reflecting ongoing economic diversification, while inflation has eased from its 2024 peak.
Oyedele further noted that the CBN’s bank recapitalisation exercise raised ₦4.65 trillion, with more than 70 per cent of the funds coming from domestic investors.
Responding to questions on how the reforms have affected ordinary Nigerians, the minister acknowledged that economic stability alone is insufficient without improved living standards.
He said the government’s next priority is to convert macroeconomic stability into productive investments, job creation and higher household incomes.
“A reform that shows up on national statistics, but not on the household dining table, hasn’t finished its job,” he said.
Oyedele added that the Federal Government had expanded cash transfer programmes to 15 million vulnerable households, saying the intervention had helped lift an estimated 7.5 million Nigerians out of extreme poverty.
He urged investors not to wait for ideal conditions before investing in Nigeria.
“There are no perfect conditions in economic history. The greatest opportunities emerge during periods of structural transformation, and we are living in one right now,” he said, adding that the government remains committed to simplifying regulations, protecting investments and reducing the cost of doing business.
Earlier, the World Bank’s Chief Economist and Senior Vice President, Indermit Gill, challenged the minister to explain how the government’s economic reforms would reduce poverty, unemployment and improve opportunities for farmers and young Nigerians.
Gill also sought clarification on the government’s trade and industrial policies, particularly their impact on fuel and fertiliser prices.
While reaffirming the World Bank’s support for Nigeria, Gill stressed that the country must rely primarily on its own resources and potential to achieve long-term economic growth.
