Nigeria’s foreign reserves have experienced a significant increase, reaching $45.24 billion as of December 23, 2025. This marks a 7.28% growth from the previous month’s figure of $42.17 billion. According to data released by the Central Bank of Nigeria, the country’s external reserves have seen a substantial boost, with a $3.1 billion increase on a month-on-month basis.

The growth in foreign reserves is a notable development, coming after the Central Bank Governor, Olayemi Cardoso, announced that the country’s foreign reserves had hit a nearly seven-year high of $46.7 billion. This surge in reserves is likely to have a positive impact on the country’s economy, particularly in terms of exchange rates. The naira, Nigeria’s currency, has already begun to appreciate, reaching N1,443.38 per dollar on December 24, 2025.

The increase in foreign reserves can be attributed to various factors, including improved economic policies and a boost in foreign investment. The Central Bank of Nigeria’s efforts to stabilize the economy and attract foreign investment have likely contributed to this growth. The country’s foreign reserves have been steadily increasing over the past few months, with some fluctuations, and this latest figure is a testament to the progress being made.

It is worth noting that the current figure of $45.24 billion is slightly lower than the peak of $45.47 billion recorded on December 12, 2025. However, this minor decrease does not detract from the overall positive trend. The growth in foreign reserves is a significant development, and its impact on the country’s economy will be closely watched in the coming months.

The appreciation of the naira is also a positive sign, as it can help to boost consumer spending and reduce the cost of imports. As the country’s economy continues to grow and stabilize, it is likely that the foreign reserves will continue to increase, leading to further economic benefits. The Central Bank of Nigeria’s efforts to manage the economy and attract foreign investment will be crucial in maintaining this momentum and ensuring the country’s continued economic growth.