Nigeria's Foreign Reserves Hit $46.7 Billion, Highest in 8 Years

Nigeria's foreign reserves have reached $46.7 billion in November 2025, the highest level in eight years, allowing the country to cover 10.3 months of imports. The announcement was made by Olayemi Cardoso, a deputy governor at the Central Bank of Nigeria, during a monetary policy colloquium in Abuja.

The sustained inflow of funds and renewed investor participation in the economy, attributed to ongoing economic reforms, have contributed to this increase. S&P Global recently revised Nigeria's sovereign credit outlook to stable, citing the significant rise in foreign reserves as a key factor.

Bloomberg's Sam Diala, a seasoned financial journalist, reported on the positive development.