Afrigather Olayemi Cardoso, the Governor of Nigeria’s Central Financial institution, mentioned that traders at the moment are assured in Nigeria Talking on the fifteenth BusinessDay’s CEO Discussion board in Lagos, he famous main enhancements in funding inflows.
Based on Cardoso, “We consider that stakeholders have gotten extra comfy with the market. We see portfolio traders are available, depart, after which come again.”
This constructive development is supported by current information from the National Bureau of Statistics, which reveals that overseas investments in Nigeria surged to $3.38 billion within the first quarter of 2024, a dramatic enhance from $1.09 billion within the earlier quarter and a year-on-year rise of 198.1 per cent from $1.13 billion within the first quarter of 2023.
The Central Bank has additionally applied a number of reforms aimed toward stabilising the market, contributing to a extra tranquil funding surroundings.
This proactive method has not solely restored confidence in Nigeria’s monetary insurance policies however has additionally confirmed helpful in attracting and retaining overseas capital.
