Nigeria's foreign reserves have received a significant boost, with the Central Bank of Nigeria (CBN) revealing a $5.52 billion growth, pushing the net position to $34.80 billion as of December 2025. This impressive increase is attributed to stronger external sector fundamentals and sustained policy reforms.
According to CBN Governor Olayemi Cardoso, the improvement in reserves reflects enhanced transparency and credibility in foreign exchange management, which has boosted investor confidence and attracted stronger FX inflows. The gross external reserves also rose from $40.19 billion at the end of 2024 to $45.71 billion at the end of 2025 ¹ ².
The CBN projects Nigeria's external reserves to reach $51.04 billion in 2026, driven by reduced pressure in the FX market, higher oil revenues, sovereign bond issuance, and diaspora remittance inflows. The Dangote Refinery's expansion is also expected to contribute to the growth in external reserves ³ ⁴ ⁵.
*Related Topics:*
- *Nigeria's Economy: What's Driving the Growth?*
- *CBN's Policy Reforms: Impact on Foreign Reserves*
- *Oil Prices: How Will They Affect Nigeria's Reserves?*
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