Nigeria’s net reserves soar as CBN highlights policy reforms
Nigeria’s net foreign exchange reserves have seen a dramatic increase, according to Olayemi Cardoso, Governor of the Central Bank of Nigeria. The CBN attributes this growth to stronger external sector fundamentals and sustained policy reforms. Cardoso emphasized the importance of transparency and credibility in foreign exchange management for boosting investor confidence. The apex bank remains committed to supporting macroeconomic stability and maintaining adequate reserve buffers.
TLDR
- Olayemi Cardoso announced that Nigeria’s net foreign exchange reserves rose to $34.80bn at the end of 2025, up from $3.99bn at the end of 2023.
- Gross external reserves reached $50.45bn as of February 16, 2026, and $45.71bn at the end of 2025.
- The improvement in reserves is linked to policy reforms, increased transparency, and stronger foreign exchange inflows.
- Cardoso stated that the end-2025 reserve position validates ongoing reforms and external sector adjustments.
- The CBN plans to continue supporting orderly foreign exchange market operations and sustaining macroeconomic stability.
