Nigeria’s external reserves has risen to $42.862 billion as of last week.
According to the Central Bank of Nigeria (CBN), the reserves could finance more than 12 months of imports. This is the highest level of the reserves in the last six years. The reserves has been increasing since July 2025, surpassing the $42 billion mark in September 2025. The steady rise of the reserves in the last few months is attributed to higher oil revenue, consistent foreign exchange inflows, and CBN monetary policies.
The external reserves serves as a buffer for meeting international payments, stabilising the naira, and boosting investor confidence.
Nigeria’s external reserves consists of gold holdings, Special Drawing Rights of IMF and foreign currency deposits.
Nigeria’s external reserves inches up to $42.862bn
