CBN: Nigeria's FX reserves hit $34.8B in 2025
Nigeria's net foreign exchange reserves surged to $34.80 billion by end-2025, up $11.69 billion from $23.11 billion in 2024, according to Central Bank Governor Olayemi Cardoso. This marks a significant recovery from $3.99 billion in 2023, reflecting improved external liquidity and reserve quality. Gross reserves also rose from $40.19 billion to $45.71 billion within the year. The improvement signals stronger external sector fundamentals and sustained policy reforms, with net reserves now exceeding Nigeria's 2023 gross reserves of $33.22 billion. Governor Cardoso credited enhanced transparency and FX management for boosting investor confidence and attracting inflows, reinforcing Nigeria's ability to meet obligations and maintain exchange rate stability.