Nigeria’s foreign exchange reserves surged to $41bn, their highest since late 2021, reflecting stronger inflows that boost the CBN’s capacity to stabilise the naira and manage liquidity.
Nigeria’s foreign exchange reserves rose to $41bn on August 19, 2025, the highest level in 44 months, according to Central Bank of Nigeria data.
This is the strongest position since December 3, 2021, marking a significant turnaround after years of depletion largely driven by external debt repayments.
The reserves have rallied sharply in August, gaining $1.46bn month-to-date, from $39.54bn on August 1 to $41bn by August 19 — a 3.69 per cent rise in under three weeks. Growth has been steady, with reserves averaging $81m daily inflows this month. “This increase strengthens the CBN’s ability to stabilise the naira and manage liquidity in the official market,” analysts noted.
After ending July below $39.4bn, reserves crossed $40bn on August 7, climbed to $40.5bn by August 12, and reached $41bn just a week later. The surge represents an 8 per cent gain since July, driven by higher oil receipts, capital inflows, and reduced imports.
The improved reserves position enhances Nigeria’s sovereign credit outlook and reassures investors of its ability to meet external obligations.