External Reserves Hit $45.04bn, Highest in 6 Years

Nigeria’s external reserves have crossed $45.04 billion, marking one of the strongest positions the country has recorded in six years.

According to the latest data from the Central Bank of Nigeria (CBN), Nigeria’s reserves last reached this level on July 23, 2019, when they also stood at $45.04 billion.

Earlier, it was reported that Nigeria’s external reserves had climbed to $42.03 billion on September 19, 2025, marking the highest level since late September 2019.

This means the nation has added nearly $5 billion to its reserves in a short period a remarkable turnaround amid challenges faced by many developing economies with declining foreign exchange buffers.

The increase reflects improved inflows, potentially from crude oil earnings, Eurobond transactions, or multilateral financing.

Stronger reserves give the CBN more flexibility to intervene in the foreign exchange market if necessary.

Reserves have grown steadily rather than spiking temporarily.

November began with $43.26 billion, maintained above $43 billion for several days, and climbed to $44.05 billion by November 18.

By the end of the month, reserves reached $44.67 billion, one of the strongest month end positions in recent years.

The upward trend continued into December, and on December 4, Nigeria’s reserves crossed $45 billion a psychological and economic milestone indicating robust foreign exchange liquidity.

Reserves above $45 billion strengthen the CBN’s ability to manage foreign exchange pressures.

For foreign investors, high reserve levels signal external stability, enhancing confidence in Nigeria’s ability to meet obligations, finance imports, and withstand external shocks.

This can attract further capital inflows, particularly in fixed-income and equity markets.

The steady buildup from $43 billion at the start of November to $45 billion in early December reflects sustainable inflows rather than short term gains.