Nigeria’s foreign exchange reserves have reached a new peak, hitting $42.03 billion on September 19, 2025. This marks the highest level since late 2019 and a significant recovery after a period of decline. According to the Central Bank of Nigeria (CBN), the reserves have shown consistent growth throughout September, gaining $610.8 million since the beginning of the month.
The increase in reserves strengthens the CBN’s ability to manage the foreign exchange market and meet the country’s international obligations. It also boosts investor confidence and could attract more foreign investment.
However, the report cautions that to sustain this momentum, Nigeria must maintain a steady supply of foreign currency from sources such as crude oil sales, non-oil exports, and remittances. The current high provides a much-needed psychological boost for the economy and a foundation for potential currency stability.
