The Central Bank of Nigeria (CBN) has announced that the nation’s Foreign Reserves have hit $46.7 billion, the highest recorded amount in the last seven years.
This is driven by the economic reforms of President Tinubu’s administration, which has renewed the investors’ trust.
Speaking at the opening of the Monetary Policy Department’s 20th Anniversary Colloquium at the CBN headquarters in Abuja on Tuesday, The CBN Governor, Olayemi Cardoso, who was represented by the Deputy Governor, Economic Policy Directorate, Muhammad Abdullahi, said that it was the first time the country had reached that level since 2018, noting that the amount could cover more than 10 months of imports.
According to him, the interest rates may fall in the coming months as inflation continues to ease, boosting prospects for improved credit access and stronger investment inflows.
The increase in Nigeria’s foreign reserves has also been due to the oil sector performance, such as increased crude oil prices, improved oil production volume, and higher export earnings. Also the Foreign Exchange Policy and Confidence, such as the CBN Policies, unification of exchange rates, clearing FX backlogs, and tighter Monetary Policy.
Another factor is the Non-Oil Inflows such as Foreign Direct Investment (FDI) and Portfolio Investment (FPI), diaspora remittances, and non-oil exports. Lastly, external borrowing includes proceeds from Eurobonds and external loans.
Meanwhile, data from the CBN’s Reserves Movement shows that the nation’s foreign reserves as of November 17, 2025, stand at $43.97 billion, in Gross Balance.
