![The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso [PHOTO CREDIT: Central Bank of Nigeria]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2025/10/522596502_1199668855538214_2031118681934686187_n-e1760302039857.jpg?fit=1203%2C840&ssl=1)
Nigeria’s net foreign reserves recorded a sharp rise at the end of 2025, climbing to $34.80 billion, the Central Bank of Nigeria has said.
The increase in foreign reserves was revealed in a statement issued on Monday by the apex bank, saying the reserve positions highlight the bank’s ongoing reforms and external sector adjustments.
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According to the CBN governor, Olayemi Cardoso, the improvement represents a substantial strengthening in both the level and quality of Nigeria’s external buffers over the past three years.
Mr Cardoso stated that net reserves increased by 51.0 per cent, from $23.11 billion at the end of 2024 to $34.80 billion at the close of 2025, a $11.69 billion increase over one year.
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He added that the gross external reserves increased to $45.71 billion from $40.19 billion over the same period, representing an increase of $5.52 billion.
At the recent Monetary Policy Committee (MPC), the governor stated that the country’s gross external reserves stood at $50.45 billion as of 16 February 2026.
The statement said the CBN governor noted that the increase in the foreign reserves reflects stronger external sector fundamentals and sustained policy reforms.
“The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has stated that Nigeria’s gross and net foreign reserves showed significant improvement at the end of 2025, reflecting stronger external sector fundamentals and sustained policy reforms.
“Following his disclosure at the post-Monetary Policy Committee (MPC) press briefing on Tuesday, 24 February 2026, where he said the country’s gross external reserves stood at $50.45 billion as of 16 February 2026, Mr Cardoso, at the weekend, said the net foreign exchange reserves, as at the end of December 2025, rose to $34.80 billion.
“The expansion highlighted Nigeria’s enhanced capacity to meet external obligations, support exchange rate stability and reinforce overall macroeconomic resilience,” the statement said.
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The boost in the 2025 net reserve signals a strong reaction from the country’s liquid and foreign exchange buffers throughout the year.
Mr Cardoso further explained that the figures emphasised the benefits of increased transparency and credibility in foreign exchange management, boosting investor confidence.
He said the foreign exchange management attracted stronger FX inflows and improved reserve management practices aimed at preserving capital, ensuring liquidity, and supporting long-term sustainability.
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