Nigeria's net foreign exchange reserves surged to $34.80 billion by end-2025, Central Bank Governor Olayemi Cardoso disclosed, marking a 50.58 percent rise of $11.69 billion from $23.11 billion in 2024.
The figure—a 772.18 percent leap or $30.81 billion improvement from 2023's $3.99 billion—exceeds 2023's gross reserves of $33.22 billion, signaling robust external financial buffers after adjusting for short-term liabilities like FX swaps and forwards.
Gross external reserves simultaneously grew from $40.19 billion in 2024 to $45.71 billion in 2025, up $5.52 billion, providing a truer gauge of capacity to meet immediate obligations.
Cardoso credited stronger external fundamentals, FX management transparency, and monetary reforms boosting investor confidence and exchange rate stability.
The CBN remains focused on reserve adequacy for macroeconomic balance and seamless FX operations. Cardoso noted in February 2026 that gross reserves continued climbing amid reform momentum.
