Nigeria’s external reserves have surged to $41 billion as of Tuesday, August 2025 – the highest level since December last year.
Data published by the Central Bank of Nigeria (CBN) on Wednesday showed a month-on-month increase of $890 million, representing a 2.19% rise from July’s $40.11 billion.
The apex bank governor, Olayemi Cardoso, had earlier hailed the reserves build-up as a sign of growing confidence in Nigeria’s economy. CardinalStone’s mid-year outlook also predicted that reserves would hit the $41 billion mark by year-end – a target now achieved ahead of schedule.
However, despite this positive development, the naira continues to struggle. On Wednesday, it slid to ₦1,536.73 per dollar, marking its third consecutive daily fall.
