Nigeria's Net Reserves to Hit $34.80 Billion by 2025

The Central Bank of Nigeria (CBN) announced that Nigeria's net foreign exchange reserves are expected to surge to $34.80 billion by December 2025. CBN Governor Olayemi Cardoso disclosed that this represents an increase from $23.11 billion at the end of 2024, indicating an $11.69 billion rise within one year.

The net reserves are projected to reflect a significant recovery from $3.99 billion at the end of 2023. Cardoso emphasized that the gross net foreign reserves would exceed Nigeria's total gross external reserves, which stood at $33.22 billion at the end of 2023.

By the end of 2025, gross external reserves are anticipated to rise to $45.71 billion, marking a $5.52 billion increase. The CBN attributes this improvement to enhanced transparency and credibility in foreign exchange management, which boosts investor confidence and attracts stronger foreign exchange inflows.

The ongoing reforms aim to ensure adequate buffers for orderly foreign exchange market operations and support macroeconomic resilience.