The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has revealed that Nigeria’s Net External Reserves stood at $34.8 billion as of December 2025.
Speaking at a post-Monetary Policy Committee (MPC) press briefing last Tuesday, Cardoso also disclosed that the country’s Gross External Reserves reached $50.45 billion as of February 16, 2026.
According to a CBN statement, the governor highlighted that increased transparency and credibility in foreign exchange management had boosted investor confidence, attracted stronger FX inflows, and improved reserve management practices aimed at preserving capital, ensuring liquidity, and supporting long-term sustainability.
Cardoso noted that Nigeria’s net reserves had risen sharply from $3.99 billion at the end of 2023 to $34.8 billion by the close of 2025, reflecting a “fundamental improvement in reserve quality.” He added that the 2025 net reserves alone exceeded the total gross reserves recorded at the end of 2023, which stood at $33.22 billion.
Net reserves increased from $23.11 billion at the end of 2024 to $34.8 billion at end-2025, while gross external reserves grew from $40.19 billion to $45.71 billion over the same period – a rise of $5.52 billion.
The governor said the expansion underscores Nigeria’s enhanced capacity to meet external obligations, support exchange rate stability, and reinforce overall macroeconomic resilience.
He described the end-2025 reserve position as a strong validation of the CBN’s ongoing policy reforms and external sector adjustments and reaffirmed the bank’s commitment to maintaining adequate reserve buffers, supporting orderly foreign exchange market operations, and sustaining macroeconomic stability in line with its statutory mandate.
