Nigeria’s external reserves hit a six-year high, rising above $45 billion mark, in a historical move.
Latest data released by the Central Bank of Nigeria, (CBN), showed that such a peak was last recorded on July 23, 2019, when they stood at $45.04 billion.
The external buffers now stand at $45.04 billion, after climbing to $42.03 billion on September 19, 2025. This means the nation has added nearly $5 billion to its reserves within a short period.
The rise in the country’s external reserves is not a one-off spike but a steady, consistent accumulation that reflects improving foreign exchange conditions.
A breakdown showed that November began with reserves at $43.26 billion, maintaining a firm hold above the $43 billion threshold for several days. By November 18, the reserves climbed to $44.05 billion, closing at $44.67 billion, one of the strongest month-end positions recorded in recent times.
The increase tiptoed into December, with the reserves starting the month still within the $44 billion range. On December 4, Nigeria’s external reserves then crossed the $45 billion mark, indicating robust FX liquidity.
The steady buildup from $43 billion at the start of November to $45 billion by early December suggests improved inflows rather than temporary gains.
Recall that last month, the CBN governor, Olayemi Cardoso, said the reserves had hit $46.7bn as of November 14, 2025.
According to him, the currency’s recovery has encouraged foreign participation in Nigeria’s fixed-income and money markets, with investors responding to clearer policy signals and tighter monetary conditions.
Cardoso said the reforms driving foreign-currency inflows had also translated into sustained disinflation.
According to the data Headline inflation eased to 16.05% in October 2025, from 34.6% at its peak in November 2024.
