Nigeria’s foreign-exchange reserves have risen to their highest level in seven years, reflecting renewed confidence in the economy, improved oil receipts and steady balance-of-payments inflows, the Central Bank of Nigeria (CBN) announced on Tuesday.
According to the CBN, the country’s FX reserves stood at $46.7 billion as of November 14, 2025, marking the strongest position since 2018 and representing an import cover of 10.3 months. CBN Governor Olayemi Cardoso, represented by Deputy Governor for Economic Policy Muhammad Abdullahi, described the development as a significant milestone in the apex bank’s ongoing reform programme.
Cardoso noted that the rise in reserves reflects improving macroeconomic fundamentals and renewed global appetite for Nigerian assets. “Foreign reserves have risen to $46.7 billion, supported by sustained inflows and renewed investor participation across various asset classes,” he said at an event marking the 20th anniversary of the central bank’s Monetary Policy Department.
The improvement also aligns with the continued strengthening of the naira, which has appreciated against the US dollar throughout the year. Reforms targeting market transparency and liquidity have helped narrow the gap between the official foreign-exchange market and the Bureau-de-Change segment to below 2 per cent, a development analysts say indicates growing confidence in Nigeria’s exchange-rate system.
Economists believe the rise in reserves and improved currency performance signal positive progress ahead, boosting Nigeria’s economic outlook in the medium term.
