Nigeria’s net foreign reserves hit $34.8bn as at Dec. 2025, says CBN gov

Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has announced that 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 disclosing this at the conclusion of the last Monetary Policy Committee (MPC) meeting, which was held on February 24 in Abuja.

The governor had earlier stated that the country’s gross external reserves stood at $50.45 billion as of February 16, 2026.

According to Cardoso, net reserves increased significantly from $3.99 billion at the end of 2023 to $34.80 billion by the close of 2025.

He described the increase as a fundamental improvement in reserve quality and overall external buffers.

Cardoso noted that the 2025 net reserve figure exceeded the total gross reserves recorded at the end of 2023, which stood at $33.22 billion.

He added that net reserves also rose from $23.11 billion at the end of 2024 to $34.80 billion at the end of 2025.

Within the same period, gross external reserves increased to $45.71 billion from $40.19 billion, he said.

The governor noted that the expansion underscores Nigeria’s enhanced capacity to meet external obligations and support exchange rate stability.

He attributed the growth to improved transparency and credibility in foreign exchange management, which boosted investor confidence and attracted stronger FX inflows.

Cardoso stated that the end-2025 reserve position validated the bank’s ongoing policy reforms and external sector adjustments.

He reaffirmed the CBN’s commitment to maintaining adequate reserve buffers and sustaining macroeconomic stability in line with its mandate.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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