Nigeria’s foreign exchange reserves have surged to $41.05 billion, the highest level in over 44 months, according to data from the Central Bank of Nigeria (CBN).
According to the CBN, the increase in Nigeria’s foreign exchange reserves shows improved macroeconomic stability and growing investor confidence, driven by increased foreign exchange inflows and ongoing economic reforms.
The breakdown of CBN’s data showed that Nigeria’s FX reserves rose from $37.195 billion on July 1, 2025, to $40.159 billion by August 7, and now to $41 billion by August 19
The data also revealed that on average, the country’s reserves have grown by roughly $81 million per day in August.
Nigeria’s reserves increased from $40.88 billion at the start of the year to $41.00 billion, gaining about $124 million or 0.30%. Most of this growth occurred in the past five weeks after a subdued first half of 2025.
Between January and June, reserves largely fluctuated within the $37 billion to $39 billion range, reflecting FX market interventions, oil price swings, and debt service obligations.
This development came after the Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, attested to the sustained stability in the foreign exchange market, accentuated by improved capital flows, earnings from increased crude oil production, rising non-oil exports, and a significant reduction in aggregate imports.
He said: “That clearly is a reflection of the way that the international investors view the banking system, and I was again very privileged to have a conversation with a good number of them about three or four weeks before this listing took place.
“And really and truly, a lot of interest, I must say, a lot of interest internationally, on putting money on the Nigerian financial system.
“The key thing is that we as regulators will continue to play our part to ensure that the system and the players and the actors continue to do what we are doing, creating resilience, creating buffer, and, of course, playing by the rules, because that is so important for those who are looking to invest that they can believe and they trust in you.”
