 has reported a significant improvement in the country’s gross and net foreign reserves at the end of 2025){kind=link}
Central Bank of Nigeria (CBN) has reported a significant improvement in the country’s gross and net foreign reserves at the end of 2025, highlighting stronger external sector fundamentals and the impact of sustained policy reforms.
Olayemi Cardoso, the CBN Governor, disclosed over the weekend that net foreign exchange reserves rose to $34.80 billion as of December 2025.
This follows his earlier announcement at a post-Monetary Policy Committee (MPC) press briefing last Tuesday, where he stated that gross external reserves stood at $50.45 billion as of February 16, 2026.
Cardoso explained that the figures demonstrate the benefits of greater transparency and credibility in foreign exchange management, boosting investor confidence, attracting stronger FX inflows, and improving reserve management practices aimed at preserving capital, ensuring liquidity, and supporting long-term sustainability.
In a statement issued by the CBN’s Corporate Communications Department, he said the improvement reflects a substantial strengthening in both the level and quality of Nigeria’s external buffers over the past three years.
He noted that net reserves surged from $3.99 billion at the end of 2023 to $34.80 billion at the close of 2025, marking a fundamental improvement in reserve quality.
He added, “The 2025 net reserve position alone exceeded the total gross reserves recorded at the end of 2023, which stood at $33.22 billion.
“That net reserves rose from $23.11 billion at end-2024 to $34.80 billion at end-2025, while gross external reserves increased to $45.71 billion from $40.19 billion over the same period, representing an increase of $5.52 billion.
“The expansion highlighted Nigeria’s enhanced capacity to meet external obligations, support exchange rate stability and reinforce overall macroeconomic resilience.”