The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the country’s net foreign exchange reserves rose to 34.8 billion dollars at the end of 2025. He noted that the figure exceeds Nigeria’s total gross reserves of 33.22 billion dollars recorded in 2023, describing it as a major improvement in the nation’s external position.
According to the Central Bank, the 2025 net reserve represents an increase of 11.69 billion dollars from the 23.11 billion dollars recorded in 2024. It is also significantly higher than the 3.99 billion dollars posted in 2023.
Cardoso said gross external reserves also grew from 40.19 billion dollars in 2024 to 45.71 billion dollars in 2025. He attributed the improvement to stronger external sector fundamentals, improved foreign exchange management, and ongoing policy reforms aimed at boosting investor confidence.
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He added that the Central Bank remains committed to maintaining adequate reserve buffers and ensuring market stability. As of mid February 2026, gross reserves were reported at 50.45 billion dollars, reflecting continued growth in the country’s external reserves.
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