Nigeria’s FX Reserves Up 9.4% to $40.29bn, Highest Since January
Nigeria's foreign exchange (FX) reserves have increased by 9.4% to $40.29 billion, the highest level in seven months as of August 8, 2025, according to the latest data from the Central Bank of Nigeria (CBN). This represents a gain of $3.47 billion compared to August 8, 2024, and marks the strongest level since January 17, 2025.
The increase in reserves is attributed to stronger foreign exchange inflows supported by elevated crude oil prices, steady remittance growth, and renewed interest from foreign portfolio investors (FPIs). Analysts believe this momentum will continue, driven by ongoing reforms to stabilize the naira and restore macroeconomic confidence.
The outlook for the naira remains positive in the near term, supported by stable FX liquidity conditions and consistent inflows from oil sales, remittances, and portfolio investments. Nigeria's external buffer is expected to continue on a steady upward path, with the country.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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