Nigeria’s gross external reserves have crossed the $45 billion mark for the first time since July 2019, according to the latest data released by the Central Bank of Nigeria (CBN).As of the most recent update, the reserves stood at $45.04 billion, reflecting a rapid accumulation of nearly $5 billion in just a few months.
The milestone marks a remarkable turnaround from the foreign exchange pressures that have weighed on many emerging economies. Only on 19 September 2025, reserves were reported at $42.03 billion already the highest level in 72 months.
The sustained rise is attributed to improved oil earnings, stronger non-oil exports, remittances, and successful policy measures by the CBN to attract foreign capital and curb speculative demand.
Economists say the growing buffer strengthens Nigeria’s ability to defend the naira, settle external obligations, and shield the economy against global shocks.
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