Nigeria’s external reserves have climbed to $40.11 billion, marking a strong rebound in the country’s foreign exchange position, according to the Central Bank of Nigeria (CBN).
The CBN Governor, Olayemi Cardoso, disclosed this during the Monetary Policy Committee (MPC) briefing held on Monday, highlighting the improved reserve as a sign of growing economic stability.
Cardoso stated that the current level of reserves is sufficient to cover approximately 9.5 months of imports, providing a crucial buffer for the Nigerian economy amid global financial uncertainties.
> “This level of reserves reflects our commitment to maintaining a stable and resilient financial system,” Cardoso said during the briefing.
The July 2025 figure represents the highest level of Nigeria’s external reserves since November 2024, when reserves briefly peaked at $40.2 billion. The rise signals renewed investor confidence, a steadier exchange rate environment, and improved foreign inflow management by the apex bank.
Financial analysts suggest that this uptick could help ease pressure on the naira, support monetary policy decisions, and strengthen Nigeria’s balance of payments in the near term.
The CBN continues to emphasize policy reforms aimed at exchange rate stability, inflation control, and enhancing the country’s economic fundamentals.
