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Nigeria’s external reserves have surged to approximately $46.7 billion as of November 14, 2025, marking the highest level in seven years, the Central Bank of Nigeria said on Tuesday.
The bank’s Governor, represented by the Deputy Governor (Economic Policy), disclosed the figure at the 20th-anniversary colloquium of its Monetary Policy Department in Abuja, noting that the reserves now provide about 10.3 months of import cover for goods and services.
The increase is being attributed to a combination of stronger oil export receipts, renewed foreign-portfolio inflows, and improved investor confidence in Nigeria’s macroeconomic policy direction. The Reserve accretion, the CBN says, reflects growing trust in the economy.
In the same address, the CBN Governor said the naira has stabilised, and the spread between official and parallel-market exchange rates has narrowed to under two percent, adding to the overall confidence in Nigeria’s external position.
Analysts say the reserve build-up gives Nigeria a stronger buffer against external shocks, such as swings in commodity prices or global capital flows. It may also afford the country more flexibility in managing its exchange rate and external obligations.
However, some observers caution that maintaining the reserves at this level will require sustained inflows, disciplined fiscal policy and continued growth in non-oil sectors, given past periods when reserves declined sharply.
Overall, the headline number offers a positive signal: after years of vulnerability in the external account, Nigeria appears to be making measurable progress toward improved resilience and financial stability.
The bank’s Governor, represented by the Deputy Governor (Economic Policy), disclosed the figure at the 20th-anniversary colloquium of its Monetary Policy Department in Abuja, noting that the reserves now provide about 10.3 months of import cover for goods and services.
The increase is being attributed to a combination of stronger oil export receipts, renewed foreign-portfolio inflows, and improved investor confidence in Nigeria’s macroeconomic policy direction. The Reserve accretion, the CBN says, reflects growing trust in the economy.
In the same address, the CBN Governor said the naira has stabilised, and the spread between official and parallel-market exchange rates has narrowed to under two percent, adding to the overall confidence in Nigeria’s external position.
Analysts say the reserve build-up gives Nigeria a stronger buffer against external shocks, such as swings in commodity prices or global capital flows. It may also afford the country more flexibility in managing its exchange rate and external obligations.
However, some observers caution that maintaining the reserves at this level will require sustained inflows, disciplined fiscal policy and continued growth in non-oil sectors, given past periods when reserves declined sharply.
Overall, the headline number offers a positive signal: after years of vulnerability in the external account, Nigeria appears to be making measurable progress toward improved resilience and financial stability.