Nigeria’s overseas reserves have climbed to $46.7 billion, the very best stage since 2018, pushed by renewed investor confidence, improved oil receipts and stronger balance-of-payments inflows, the Central Bank of Nigeria mentioned on Tuesday.
CBN Governor, Olayemi Cardoso, represented by the Deputy Governor in command of Financial Coverage, Dr Muhammad Abdullahi, disclosed this in Abuja on the twentieth Anniversary of the Financial Coverage Division (MPD).
Cardoso mentioned the newest reserve place, recorded on November 14, 2025, offers 10.3 months of import cowl, describing it as a significant milestone within the Bank’s reform programme. “Overseas reserves have risen to $46.7 billion… supported by sustained inflows and renewed investor participation throughout varied asset lessons,” he mentioned.
He linked the sharp rise to stronger portfolio inflows, improved oil receipts, and insurance policies which have stabilised the overseas change market. In keeping with him, the naira has continued to agency up, whereas the unfold between the official and Bureau-de-Change segments has narrowed to beneath two per cent — a growth he mentioned displays restored confidence.
Cardoso famous that inflationary pressures had been additionally easing. Headline inflation slowed to 16.05% in October 2025, down from 34.6% in November 2024. He described the decline as “seven consecutive months of disinflation” and “the bottom in three years”, including that core inflation had additionally begun to melt.
Reforms, belief and improved international scores
The CBN governor mentioned latest reforms had reshaped investor sentiment and strengthened Nigeria’s macroeconomic outlook. “All of the three prime worldwide scores businesses upgraded Nigeria,” he mentioned, citing S&P International Scores’ revision of the nation’s outlook from secure to constructive. He added that Nigeria’s elimination from the FATF Gray Checklist marked one other step in restoring credibility inside the worldwide monetary system, opening doorways to improved commerce finance and funding flows.
In keeping with him, the mixed impact of rising reserves, a stronger naira, slowing inflation and higher scores has created “a extra aggressive foreign money, improved commerce balances, and a stronger basis for inclusive growth.”
Cardoso used the anniversary to focus on the MPD’s central function in monetary-policy evolution over twenty years. He credited the division with main reforms, together with the introduction of the Financial Coverage Charge in 2006, the interest-rate hall system, enhanced coverage communication and the nationwide shift towards an inflation-targeting financial framework.
Nevertheless, he emphasised that future challenges remained important, noting ongoing international shocks, commodity-price swings and structural imbalances. “The Division should stay agile and forward-looking,” he mentioned, urging deeper analytical capability, improved modelling instruments and better use of expertise and large information to strengthen coverage selections.
He pressured that transitioning to a full inflation-targeting regime was one of many Bank’s most essential duties. “Inflation concentrating on will improve transparency, enhance credibility, and strengthen the effectiveness of financial coverage transmission,” he mentioned.
What it is best to know
Nigeria’s reserve surge comes lower than two weeks after the Federal Authorities raised funds from worldwide markets in its newest dual-tranche Eurobond issuance.
Nairametrics earlier reported that Nigeria achieved a significant milestone in its return to the worldwide capital markets, efficiently elevating $2.35 billion by way of Eurobonds issuance that drew an unprecedented $13 billion in investor orders — the largest-ever orderbook within the nation’s historical past.
The Debt Administration Workplace (DMO), in an announcement, described the issuance as a landmark success that demonstrates international investor confidence in Nigeria’s financial reforms, fiscal self-discipline, and long-term development trajectory.
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