- CBN Records $5.52bn Reserve Expansion, Net Position at $34.8bn
- The latest figures reflect improved transparency in foreign exchange management and stronger policy reforms
- He added that the 2025 net reserve figure alone exceeded the total gross reserves recorded at the end of 2023
Nigeria’s external reserves recorded a strong rebound in 2025, with the Central Bank of Nigeria (CBN) announcing a $5.52 billion increase in gross reserves and a sharp rise in the country’s net reserve position.
Eko Hot Blog reports that Governor of the Central Bank of Nigeria, Olayemi Cardoso, disclosed at the weekend that Nigeria’s net foreign exchange reserves climbed to $34.80 billion at the end of December 2025.
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The announcement follows his earlier remarks at the post-Monetary Policy Committee briefing, where he revealed that gross external reserves stood at $50.45 billion as of February 16, 2026.
According to Cardoso, the latest figures reflect improved transparency in foreign exchange management and stronger policy reforms, which have helped rebuild investor confidence and attract higher foreign exchange inflows.
A statement from the apex bank’s Corporate Communications Department noted that the reserve position has strengthened significantly over the past three years, both in size and quality.
The CBN governor explained that net reserves surged from $3.99 billion at the end of 2023 to $34.80 billion by the close of 2025, describing the growth as a major turnaround in reserve quality.
He added that the 2025 net reserve figure alone exceeded the total gross reserves recorded at the end of 2023, which stood at $33.22 billion.
Between 2024 and 2025, net reserves rose from $23.11 billion to $34.80 billion, while gross external reserves increased from $40.19 billion to $45.71 billion, marking a $5.52 billion growth over the period.
Cardoso said the improvement strengthens Nigeria’s ability to meet external obligations, stabilise the exchange rate and enhance overall macroeconomic resilience.
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