Nigeria’s foreign exchange reserves have surged to $41 billion as of August 19, 2025 — the strongest level in nearly four years — according to the latest figures from the Central Bank of Nigeria, CBN.
The reserves, last recorded at such heights on December 3, 2021, represent a major rebound after months of depletion triggered by debt repayments and unstable global inflows.
Analysts note that the increase reflects “stronger foreign exchange earnings and improved market confidence” in recent weeks.
Data shows a swift buildup during August, with reserves rising from $39.54 billion on August 1 to $41 billion by August 19 — a $1.46 billion jump in less than three weeks. This translates to a 3.69 percent growth rate and an average daily gain of about $81 million. The threshold first broke $40 billion on August 7 and reached $40.5 billion by August 12.
Despite this sharp rally, year-to-date growth remains mild. At the end of December 2024, reserves stood at $40.88 billion, meaning the country has added just about $124 million, or 0.30 percent, since January. Most of the gains came within the last five weeks, reversing earlier months when reserves hovered between $37 billion and $39 billion.
The turnaround is especially striking given that reserves had dipped to $37.28 billion in early July. Within a month, the stockpile recovered by over $3 billion — an 8 percent increase. This new peak gives the CBN greater room to stabilize the naira, regulate liquidity, and curb market speculation.
