Nigeria’s FX Reserves Rise To $41bn, Highest Since 2021
…Hit 44-Month High After Weeks Of Steady Accretion
Nigeria’s foreign exchange reserves have risen to $41.00bn as of August 19, 2025, their highest level in 44 months, according to the Central Bank of Nigeria (CBN).
The latest figure marks the strongest position since December 3, 2021, reflecting a sustained reserve build-up after months of depletion triggered by debt repayments and foreign exchange market pressures.
The reserves gained $1.46bn in August alone, climbing from $39.54bn on August 1 to $41.00bn by August 19 — a growth of 3.69 per cent in less than three weeks.
On average, the country’s buffers expanded by $81m per day during the period, underscoring improved inflows relative to outflows.
Momentum picked up from early August when reserves crossed the $40bn threshold on August 7, after ending July below $39.4bn. By August 12, they had advanced to $40.5bn, before breaching $41bn just a week later.
Analysts note that the sharp rebound strengthens the CBN’s ability to stabilise the naira in the official market, sustain liquidity, and resist speculative pressures.
Despite the August surge, cumulative gains in 2025 remain modest. Nigeria’s reserves stood at $40.88bn at end-December 2024, meaning the year-to-date increase is only about $124m (0.30 per cent).
The bulk of the growth has been concentrated in the past five weeks, following a relatively subdued first half of the year when reserves fluctuated between $37bn and $39bn.
Reserves even fell to
$37.28bn in early July, before staging the current rebound, which has added more than $3bn (about 8 per cent) within a month.
Market watchers say the recent trend provides much-needed support for Nigeria’s external position, with stronger buffers enabling the country to better manage forex demand, debt obligations, and global commodity price swings.
However, sustaining the momentum will depend on factors such as global oil prices, capital inflows, external debt service, and the stability of monetary policy.
Nigeria’s FX Reserves Rise To $41bn, Highest Since 2021 is first published on The Whistler Newspaper
