Nigeria’s net foreign exchange reserves surged by 772 percent, reaching $34.8 billion at the end of 2025, far surpassing the country’s entire gross reserves at the end of 2023, Central Bank Governor Olayemi Cardoso reported. The dramatic rise reflects strengthened external buffers and improved foreign exchange management following sustained policy reforms, as highlighted by Business Day Nigeria.
Governor Cardoso noted that Nigeria’s net reserves now exceed the $33.22 billion gross external reserves recorded at the end of 2023, underscoring the country’s enhanced liquidity and unencumbered holdings. Meanwhile, gross reserves increased from $40.19 billion at the end of 2024 to $45.71 billion at the close of 2025, according to reporting by Nairametrics.
The central bank attributed the surge to stronger investor confidence, consistent foreign exchange inflows, and disciplined reserves management, aimed at preserving capital, ensuring liquidity, and enhancing long-term sustainability. Analysts say the robust reserve position is expected to support exchange rate stability and bolster Nigeria’s macroeconomic resilience amid global economic volatility.
Image Source: The Guardian
