Nigeria’s Foreign Reserves Hit $46.8bn- Cardoso

Nigeria’s foreign reserves have risen significantly, reaching $46.7 billion as of November 2025.

According to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, this is the highest level the country has recorded in nearly eight years.

With this amount, Nigeria now has enough reserves to pay for more than 10 months of imports, giving the economy a stronger buffer against external shocks.

Cardoso shared this information on Tuesday during the Monetary Policy Department (MPD) ‘s 20th anniversary celebration at the CBN headquarters in Abuja.

He was represented by the Deputy Governor in charge of economic policy, Dr. Mohammed Sani Abdullahi, who delivered the remarks on his behalf.

He explained that the steady improvement in the reserves is not accidental but reflects growing investor confidence and increased foreign inflows.

According to him, ongoing economic reforms both from the monetary angle under the CBN and the fiscal side from the federal government have encouraged more investment and strengthened Nigeria’s external finances.

Cardoso added that the rise in reserves signals a more stable economic outlook for the country, improves Nigeria’s credit standing, and supports the CBN’s efforts to maintain a healthier foreign exchange market.