Nigeria’s foreign exchange reserves have surged by $540.28 million in just two weeks, bringing the total to $43.17 billion, according to the Central Bank of Nigeria (CBN).
The data, published on the CBN’s official website, showed that the reserves grew from $42.63 billion on October 15, 2025, to $43.17 billion as of October 30, 2025 — marking one of the most significant increases this quarter.
Analysts attribute the rise to improved oil export earnings, stronger diaspora remittances, and increased foreign portfolio inflows following the apex bank’s ongoing reforms to stabilise the naira and attract investment.
A senior financial analyst at Lagos Business School, Dr. Chidi Okeke, said the steady rise in reserves “reflects renewed investor confidence and better oil market conditions,” adding that a stronger reserve position “provides much-needed support for the naira and import financing.”
“This is the healthiest the reserves have looked in years. It gives the CBN more flexibility to defend the currency and manage inflationary pressures,” Okeke said.
The current level places Nigeria among the top reserve-holding nations in Africa and represents a key indicator of external stability. According to the CBN, the reserves provide over eight months of import cover, exceeding the international benchmark of six months.
Despite the positive trend, experts caution that sustaining the momentum will depend on global oil prices, local production volumes, and the success of the government’s diversification drive.
The development comes as the CBN intensifies efforts to unify exchange rates, attract foreign capital, and reduce speculative demand for foreign currency in the parallel market.
Written By:Subair Damilare Adebayo
