The Digest:
Nigeria’s foreign exchange reserves have reached $41 billion as of August 19, 2025, marking the highest level since December 2021. The Central Bank of Nigeria (CBN) has emphasized that this growth reflects efforts to stabilize the foreign exchange market and boost the economy.
Key Points:
- Nigeria’s FX reserves stood at $41 billion, the highest since December 2021.
- Reserves grew 3.69% from $39.54 billion to $41 billion between August 1 and 19.
- The increase in reserves is attributed to rising crude oil production and improved capital inflows.
- The CBN has focused on boosting non-oil exports and reducing imports to strengthen the reserves.
- Governor Olayemi Cardoso highlighted sustained stability in the FX market.
- On July 18, the CBN reported $40.11 billion in external reserves, covering about 9.5 months of imports.
- The upward trend signals continued economic resilience and growth in Nigeria’s financial sector.
Nigeria’s foreign exchange reserves have surged to $41 billion, demonstrating robust growth driven by strategic economic measures. The Central Bank of Nigeria’s efforts to enhance capital inflows and stabilize the market have proven effective.
Sources: TheCable, Channels TV, Premium Times
