Nigeria’s Foreign Reserves Hit $42 Billion, Highest in 6 Years

Data from the Central Bank of Nigeria (CBN) show that the Nigeria’s Foreign Reserves climbed to $42.03 billion as of September 19, 2025—the highest level recorded since late September 2019. This marks a six-year (72-month) peak, with the last comparable figure being $42.05 billion on September 26, 2019. The recent rise reflects a consistent upward trend that began in July. Only a month earlier, on August 19, 2025, reserves had reached $41 billion, their highest level in nearly four years.

According to CBN statistics, Nigeria’s foreign reserves grew by approximately 12.7% year-on-year, increasing by $4.7 billion from $37.3 billion on September 18, 2024, to $42.03 billion on September 19, 2025. The CBN’s September 2025 Monetary Policy Communiqué (No. 159) highlighted the strong reserves position and a stable exchange rate, attributing the improvement to higher capital inflows and increased crude oil production.

To sustain this growth trajectory, maintaining prudent debt management and channeling investments into infrastructure that enhances oil production will be essential, given the oil sector’s dominant role in Nigeria’s foreign earnings. Additionally, strengthening non-oil exports remains vital. This can be achieved by improving access to credit for businesses, cutting energy and production costs, developing efficient transport systems, and ensuring industries have steady access to raw materials. Source: Central Bank of Nigeria (CBN)