The Central Bank of Nigeria says the country’s current account surplus rose to 5.28 billion dollars in the second quarter of 2025, up from 2.85 billion dollars in the first quarter. It added that the gross external reserves climbed to 43.05 billion dollars as of September 11, providing more than eight months of import cover.
The bank attributed the improvement to exchange rate stability, tighter monetary policy and lower petroleum product prices. It noted that external reserves had increased by over 692 million dollars in just 18 days, reaching their highest level in more than six years.
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The CBN also explained recent policy changes, including a reduction of the Cash Reserve Ratio for commercial banks from 50 to 45 percent, and the introduction of a 75 percent ratio on non-Treasury Single Account public sector deposits. It said the measures aim to balance inflation control with support for the real economy.
In addition, the Monetary Policy Committee cut the Monetary Policy Rate by 50 basis points to 27 percent, citing a sustained decline in inflation. The CBN said the move, alongside adjustments to the standing facilities corridor, would improve liquidity management, strengthen monetary policy transmission and support economic growth.
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