Charles Esther
Nigeria’s external reserves increased to $41 billion as of Tuesday, August 2025, rising from $40.11 billion recorded in July 2025.
Data from Central Bank of Nigeria
The Central Bank of Nigeria (CBN) shared the latest figures on its official website on Wednesday, confirming the growth in reserves.
Monthly Increase of $890 Million
The data showed that Nigeria’s external reserves rose by $0.89 billion, equivalent to $890 million or 2.19 percent, over the past month.
Previous Figures and Monetary Policy Insights
At the 301st Monetary Policy Committee meeting, CBN Governor Olayemi Cardoso noted that external reserves had reached $40.11 billion in July, signaling a substantial boost to the nation’s foreign currency buffer.
Highest Level Since December
The $41 billion mark is the highest level Nigeria has attained since December last year, when reserves stood at $40.88 billion.
Predictions and Outlook
Earlier in July, CardinalStone’s mid-year outlook had projected that Nigeria’s external reserves would hit $41 billion by the end of 2025, up from $40.88 billion at the close of last year.
Naira Faces Pressure Despite Reserves Increase
Despite the growth in external reserves, the naira has weakened over the past three days, recording consecutive declines.
Naira to Dollar Exchange Rate
As of Wednesday, the naira traded at N1,536.73 per dollar, according to CBN’s official data.
David Awoyode