CBN REPORTS S5.52BN RESERVE INCREASE, NET POSITION REACHES S34.8BN
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By: Fasasi Hammad
The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s gross and net foreign reserves recorded significant growth by the end of 2025, signaling stronger external sector performance and the impact of ongoing policy reforms.
CBN Governor Olayemi Cardoso revealed over the weekend that the country’s net foreign exchange reserves climbed to $34.80 billion as of December 2025.
This update follows his remarks at the post-Monetary Policy Committee (MPC) briefing last Tuesday, where he stated that gross external reserves stood at $50.45 billion as of February 16, 2026.
According to Cardoso, the improved figures reflect enhanced transparency and credibility in foreign exchange management, which have strengthened investor confidence, attracted increased FX inflows, and improved reserve management practices focused on capital preservation, liquidity, and long-term sustainability.
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In a statement issued by the CBN’s Corporate Communications Department, the governor described the development as a marked improvement in both the level and quality of Nigeria’s external buffers over the past three years.
He noted that net reserves surged from $3.99 billion at the end of 2023 to $34.80 billion by the close of 2025, describing the rise as a fundamental enhancement in reserve quality.
“The 2025 net reserve position alone surpassed the total gross reserves recorded at the end of 2023, which stood at $33.22 billion,” he said.
Cardoso added that net reserves increased from $23.11 billion at the end of 2024 to $34.80 billion at the end of 2025, while gross external reserves rose from $40.19 billion to $45.71 billion during the same period — an increase of $5.52 billion.
He explained that the growth underscores Nigeria’s improved ability to meet external obligations, stabilize the exchange rate, and strengthen overall macroeconomic resilience.
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