Foreign reserves rose to $43.17 billion, up 1.8% month-on-month.”
The Naira ended October 2025 on a strong note, closing at ₦1,427.5 per U.S. dollar, according to Nairametrics reporting, citing data from the Central Bank of Nigeria (CBN). The figure represents the currency’s best monthly close since January, when it settled at ₦1,475/$1.
CBN records show that the local currency began October at ₦1,464.85/$1, gaining steadily as foreign exchange liquidity improved and investor confidence strengthened. This performance follows months of volatility, with the naira recovering gradually since mid-2025 after hitting a low of ₦1,602/$1 in April.
According to CBN data, Nigeria’s foreign reserves also rose to $43.17 billion by the end of October, up from $42.4 billion in September — a 1.8% increase month-on-month.
Financial analyst Martin Udo, CEO of Braxton Consulting, said the growth “is an indication that investors’ and citizens’ confidence is improving.” He advised the government to “address the cost-of-living challenge” and sustain fiscal discipline.
Similarly, economist Paul Adams of Nasarawa State University urged policymakers to improve the business climate, while Dr. Bilal Adamu described the gains as “a positive and strategic signal” that must translate into tangible economic outcomes.