CBN Governor, Yemi Cardoso
The Central Bank of Nigeria (CBN) has announced a significant improvement in the country’s gross and net foreign reserves at the end of 2025.
CBN Governor, Olayemi Cardoso, disclosed that Nigeria’s net foreign exchange reserves rose to $34.80 billion as of December 2025.
This follows his earlier revelation at the post-Monetary Policy Committee (MPC) briefing that the country’s gross external reserves stood at $50.45 billion as of February 16, 2026.
In a statement issued by the CBN’s Corporate Communications Department, Cardoso said the latest figures underscore the gains of increased transparency and credibility in foreign exchange management.
According to him, these reforms have boosted investor confidence, attracted stronger FX inflows, and improved reserve management practices aimed at preserving capital, ensuring liquidity, and supporting long-term sustainability.
He noted that the improvement represents a substantial strengthening in both the level and quality of Nigeria’s external buffers over the past three years.
Cardoso revealed that net reserves surged from $3.99 billion at the end of 2023 to $34.80 billion at the close of 2025, describing the development as a fundamental improvement in reserve quality.
“The 2025 net reserve position alone exceeded the total gross reserves recorded at the end of 2023, which stood at $33.22 billion.
“Net reserves rose from $23.11 billion at end-2024 to $34.80 billion at end-2025, while gross external reserves increased to $45.71 billion from $40.19 billion over the same period, representing an increase of $5.52 billion.
“The expansion highlights Nigeria’s enhanced capacity to meet external obligations, support exchange rate stability, and reinforce overall macroeconomic resilience,” he said.
