Lagos: Central Bank of Nigeria Governor Olayemi Cardoso announced the country’s net foreign exchange reserves stood at $34.80 billion as of December 2025.
In a statement issued on Monday in Lagos, Cardoso was quoted as having disclosed this at the end of the last Monetary Policy Committee (MPC) meeting.
The last MPC meeting was held on Feb. 24 in Abuja.
He had earlier stated that the country’s gross external reserves stood at 50.45 billion dollars as of Feb. 16, 2026.
According to him, net reserves, which reflect gross reserves minus external liabilities, increased from 3.99 billion dollars at the end of 2023 to 34.80 billion dollars at the close of 2025.
He described the increase as a fundamental improvement in the quality of reserves and overall external buffers.
Cardoso highlighted that the 2025 net reserve exceeded the 2023 gross reserve of $33.22 billion.
He added that net reserves rose from 23.11 billion dollars at the end of 2024 to 34.80 billion dollars at the end of 2025.
He also said gross external reserves increased to 45.71 billion dollars from 40.19 billion dollars within the same period.
The governor noted that the expansion underscored Nigeria’s enhanced capacity to meet external obligations and support exchange rate stability.
He noted that improved transparency and credibility in foreign exchange management boosted investor confidence and attracted stronger FX inflows.
Cardoso said the end-2025 reserve position validated the bank’s ongoing policy reforms and external sector adjustments.
He reaffirmed the CBN’s commitment to maintaining robust reserve buffers and fortifying macroeconomic stability, underscoring the bank’s unwavering mandate to support Nigeria’s sustained growth and resilience.
