The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has announced that Nigeria recorded notable growth in both gross and net foreign reserves at the end of 2025, reflecting stronger external sector fundamentals and the positive impact of ongoing monetary and foreign exchange reforms.
Addressing journalists at the post-Monetary Policy Committee (MPC) briefing in Abuja, Cardoso stated that the country’s gross external reserves rose to 50.45 billion dollars as of February 16, 2026.
He also disclosed over the weekend that net foreign exchange reserves increased to 34.80 billion dollars at the close of December 2025.
According to the CBN Governor, the increase reflects enhanced transparency and credibility in foreign exchange management, which has helped boost investor confidence, attract stronger foreign exchange inflows, and improve overall reserve management practices.
He explained that net reserves climbed sharply from 3.99 billion dollars at the end of 2023 to 34.80 billion dollars at the close of 2025.
The 2025 net reserve figure, he noted, surpasses the total gross reserves recorded at the end of 2023, which stood at 33.22 billion dollars.
Providing further breakdown, Cardoso said net reserves rose from 23.11 billion dollars at the end of 2024 to 34.80 billion dollars by the end of 2025. Over the same period, gross external reserves increased from 40.19 billion dollars to 45.71 billion dollars, representing a growth of 5.52 billion dollars.
He described the development as a substantial strengthening in both the level and quality of Nigeria’s external buffers over the past three years, underscoring the country’s improved capacity to meet external obligations, support exchange rate stability and reinforce macroeconomic resilience.
Cardoso reaffirmed the apex bank’s commitment to sustaining prudent reserve management, ensuring orderly foreign exchange market operations, and maintaining macroeconomic stability in line with its statutory mandate.