US EditionNigeria's Foreign Reserves Rise to $41bn, Highest Since 2021
Nigeria's foreign reserves rose 3.69% in August to $41 billion, bolstered by stronger foreign exchange inflows and improved crude oil production, marking the highest level since December 2021.
- On August 19, 2025, the Central Bank of Nigeria reported reserves reached $41.00 billion, the highest level since December 3, 2021.
- Following policy reforms including exchange rate unification and the FX Code, reserves added about $1.46 billion this month, credited to increased capital inflows and rising exports, the Central Bank of Nigeria said.
- Since August 1, 2025, the reserves rose about $1.46 billion, a 3.69% gain with average daily growth near $81 million; they crossed $40 billion on August 7 and hit $40.5 billion by August 12.
- With reserves above $40 billion, Nigeria can cover over 10 months of imports, boosting the Central Bank of Nigeria's capacity to manage liquidity and reassure sovereign and foreign investors.
- Sustainability will hinge on global oil prices, capital inflows, external debt service, and stable monetary policy, while heavy reliance on foreign portfolio investors leaves reserves vulnerable, and CardinalStone analysts note planned fundraises could sustain buffers.
19 Articles
19 Articles
Nigeria's Foreign Reserves Rise to $41bn, Highest Since 2021
Buoyed by increasing foreign exchange inflows into the country, Nigeria's foreign exchange reserves has hit $41.046 billion as at August 20, 2025, according to latest data released by the Central Bank of Nigeria (CBN), the highest it has been since December 2, 2021.
Nigeria’s FX reserves rise to $41bn
Nigeria’s foreign exchange reserves rose sharply to $41.00 billion on August 19, 2025, the highest level since 2021, Data from the Central Bank of Nigeria (CBN) indicated. Daily Trust reports that this was the first time the external reserves would witness this highest accretion since December 2021. Daily Trust reports that the month of August has witnessed consistent accretion with the reserve adding about $1.46 billion month-to-date, from $39.…
Nigeria’s vanishing savings: $10bn subsidy removed, yet reserves stuck at $41bn - Blaise Udunze
When the Nigerian government scrapped the decades-old fuel subsidy in 2023, it promised relief for the nation’s bleeding finances. Nearly $10 billion was to be freed up annually, and by scrapping it, President Bola Tinubu’s administration projected that the fiscal space created could be channeled into education, infrastructure, social investment, and healthcare. The International Monetary […]
Nigeria’s vanishing savings: $10bn subsidy removed, yet reserves stuck at $41bn
By Blaise Udunze When the Nigerian government scrapped the decades-old fuel subsidy in 2023, it promised relief for the nation’s bleeding finances. Nearly $10 billion was to be freed up annually, and by scrapping it, President Bola Tinubu’s administration projected that the fiscal space created could be channeled into education, infrastructure, social investment, and healthcare. […] The post Nigeria’s vanishing savings: $10bn subsidy removed, ye…
Naira to dollar: Nigeria’s external reserves up by $890m to $41bn
Nigeria’s external reserves rose to $41 billion as of Tuesday, August 2025, up from the N40.11 billion mark in July 2025. This is according to the Central Bank of Nigeria’s external reserves data on its official website, Wednesday. This showed that the country’s external reserves increased by $0.89 billion, that is, $890 million, or 2.19 percent, in the last month. Recall that the apex bank governor, Olayemi Cardoso, at the 301st Monetary …
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