March 02, (THEWILL) — Governor Olayemi Cardoso says Nigeria’s foreign reserve position strengthened significantly at the end of 2025, reflecting improved external sector fundamentals and sustained monetary reforms.
Speaking after the Monetary Policy Committee meeting and in subsequent remarks, Cardoso disclosed that gross external reserves stood at $50.45 billion as of February 16, 2026, while net foreign exchange reserves rose to $34.80 billion at the end of December 2025.
He noted that net reserves climbed sharply from $3.99 billion at the end of 2023 to $34.80 billion by the end of 2025, describing the increase as a marked improvement in reserve quality. The 2025 net reserve level also exceeded the country’s total gross reserves of $33.22 billion recorded at the end of 2023.
On a year-on-year basis, net reserves increased from $23.11 billion at end-2024 to $34.80 billion at end-2025, while gross reserves rose from $40.19 billion to $45.71 billion, representing a $5.52 billion increase.
Cardoso said the growth reflects enhanced transparency in foreign exchange management, stronger FX inflows, and improved reserve administration aimed at preserving capital and ensuring liquidity. He added that the strengthened buffers improve Nigeria’s capacity to meet external obligations, support exchange rate stability, and reinforce macroeconomic resilience.
The CBN reaffirmed its commitment to sustaining adequate reserve levels and maintaining orderly foreign exchange market operations in line with its mandate.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
