Nigeria’s foreign-exchange reserves have climbed to their highest level in seven years, buoyed by renewed investor confidence, stronger oil receipts and sustained balance-of-payments inflows, the Central Bank of Nigeria (CBN) said on Tuesday.
FX reserves rose to $46.7 billion as of Nov. 14, 2025, the strongest position since 2018 and enough to cover 10.3 months of imports, according to CBN Governor Olayemi Cardoso, whose remarks were delivered in Abuja by Deputy Governor for Economic Policy, Muhammad Abdullahi.
Cardoso described the development as a significant milestone in the central bank’s ongoing reform programme, saying it reflects improving macroeconomic fundamentals and renewed global appetite for Nigerian assets.
“Foreign reserves have risen to $46.7 billion, supported by sustained inflows and renewed investor participation across various asset classes,” Cardoso said at an event marking the 20th anniversary of the central bank’s Monetary Policy Department.
The advance in reserves coincides with a continued strengthening of the naira, which has appreciated against the dollar this year as reforms improved market liquidity and narrowed arbitrage opportunities.
The spread between the official market and the Bureau-de-Change segment has tightened to below 2 per cent, a level policymakers say indicates returning confidence in Nigeria’s exchange-rate framework.
