The Central Bank of Nigeria (CBN) has announced a significant improvement in the country’s gross and net foreign reserves at the end of 2025, citing stronger external sector fundamentals and sustained policy reforms.
CBN Governor Olayemi Cardoso disclosed at the weekend that Nigeria’s net foreign exchange reserves rose to $34.80 billion as of December 31, 2025. The development follows his earlier revelation during the post-Monetary Policy Committee (MPC) briefing that gross external reserves stood at $50.45 billion as of February 16, 2026.
According to Cardoso, the improved reserve position underscores the benefits of enhanced transparency and credibility in foreign exchange management. He noted that the reforms have strengthened investor confidence, attracted increased FX inflows, and improved reserve management practices focused on capital preservation, liquidity maintenance, and long-term sustainability.
In a statement issued by the CBN’s Corporate Communications Department, the governor described the performance as a substantial strengthening of both the level and quality of Nigeria’s external buffers over the past three years.
He revealed that net reserves climbed sharply from $3.99 billion at the end of 2023 to $34.80 billion at the close of 2025, representing what he termed a fundamental improvement in reserve quality.
“The 2025 net reserve position alone exceeded the total gross reserves recorded at the end of 2023, which stood at $33.22 billion,” Cardoso stated.
He added that net reserves rose from $23.11 billion at the end of 2024 to $34.80 billion at the end of 2025. Within the same period, gross external reserves increased from $40.19 billion to $45.71 billion, marking a $5.52 billion expansion.
The governor said the growth highlights Nigeria’s enhanced capacity to meet external obligations, support exchange rate stability, and reinforce overall macroeconomic resilience.
