The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has declared that the Nigerian economy is showing signs of stability, with investor confidence significantly improving over the past eighteen months.

Cardoso made this announcement during a press briefing following the conclusion of the CBN's 300th Monetary Policy Committee (MPC) meeting held on Tuesday.

"Investors do not go to where there is economic instability. They don't go out to lose money but to make a profit. With that stability comes confidence and then investment and growth," Cardoso stated while addressing questions about how improved macroeconomic fundamentals are impacting the lives of ordinary Nigerians.

The CBN Governor emphasized that the Nigerian economy is now being recognized for its stability, pointing to inflation figures as evidence. "What is now being recognised is that the Nigerian economy is stable. The inflation numbers speak for themselves," he added.

This positive assessment aligns with the World Bank's latest Nigerian Development Update report, which indicated that the country is in good economic shape, having achieved a growth rate of 3.4 percent in 2024.

The announcement comes as the CBN maintains Nigeria's interest rate at 27.50%, a decision that was also made during the same MPC meeting, signaling the apex bank's commitment to its current monetary policy stance.

Economic analysts view these developments as potential indicators of Nigeria's gradual recovery from recent economic challenges, though many citizens continue to grapple with the high cost of living and other economic pressures.