Deputy Governor for Economic Policy at the Central Bank of Nigeria (CBN) Dr. Mohammad Sani Abdullahi has disclosed that the country’s foreign exchange (FX) reserves have now risen to a 5-year high of $43.4 billion.
He announced this while speaking at the Nigeria Investors Forum in Washington, D.C., capital of the United States of America.
The Nigeria Investors Forum held on the periphery of the IMF–World Bank annual meetings, during which Abdullahi led discussions on Nigeria’s economic outlook and progress made on reforms.
He said the reserves hit the 5-year record on 10 October 2025 in spite of the clearing of foreign exchange backlogs.
According to Abdullahi,
“Our gross reserves are at a 5-year high of $43.4 billion as of October 10, enough to cover 11 months of imports.
“This growth comes after clearing FX backlogs and improving liquidity across the market.”
He also noted that the naira has remained stable with the FX rate gap between official and parallel markets now below 3% versus 50%+ in 2022.
Abdullahi further added that Nigeria’s inflation has also declined to 18.02% the lowest level in the last 3 years, while capital inflows and remittances have strengthened Nigeria’s balance of payments.
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