Nigeria foreign reserves five-year high $43.4 billion
Nigeria’s foreign exchange reserves have hit a five-year high of $43.4 billion, the Central Bank of Nigeria (CBN) revealed. The figure was confirmed as of October 10, 2025, and the bank says this level of reserves can cover 11 months of imports.
Mohammed Abdullahi, the deputy governor for economic policy at CBN, attributed the surge in reserves to recent efforts in clearing foreign exchange backlogs and enhancing market liquidity. He asserted that the exchange rate premium between official and parallel markets has narrowed significantly, pointing to a more stable currency environment.
CBN Governor Olayemi Cardoso also spoke on the development, saying the increase in reserves reflects stronger investor confidence and the positive effects of coordinated fiscal and monetary reforms. He emphasized that the bank and Nigeria’s Ministry of Finance have been working closely to restore macroeconomic stability and rebuild buffers.
Analysts view this milestone as an important signal that Nigeria is making progress in its efforts to stabilize the economy amid global headwinds and internal challenges. However, they also warn that sustaining such levels will require consistent reform, diversification of foreign exchange sources, and tight policy discipline.
