Nigeria’s External Reserves Hit $41 Billion in August 2025 — Highest Since December 2024
Nigeria’s external reserves have climbed to $41 billion as of Tuesday, August 2025, rising from the $40.11 billion recorded in July 2025, PulseNets learnt from the Central Bank of Nigeria (CBN) official reserves data released on Wednesday.
According to the figures published on the apex bank’s website, this represents an increase of $0.89 billion (approximately $890 million), translating to a 2.19 percent growth within the last month.
PulseNets recalls that CBN Governor Olayemi Cardoso, while addressing journalists after the 301st Monetary Policy Committee (MPC) meeting, confirmed in July that the nation’s reserves had already risen to $40.11 billion. Cardoso had stressed that the development was “an indication of a significant boost to Nigeria’s foreign currency buffer.”
Further analysis by PulseNets revealed that the current $41 billion milestone marks the highest level Nigeria’s external reserves have reached since December 2024, when the figure stood at $40.88 billion.
Interestingly, PulseNets reported in July that CardinalStone’s mid-year outlook had projected Nigeria’s external reserves could touch $41 billion by the end of 2025, up from the $40.88 billion recorded at the close of last year. That forecast now appears to have materialized earlier than anticipated.
However, despite this positive reserves growth, the naira has continued its downward slide. PulseNets checks confirmed that the local currency recorded three consecutive daily losses this week, trading at N1,536.73 per dollar on Wednesday, according to official CBN data.
Also Read: Nigeria’s External Reserves Surge to $35.77 Billion — CBN
Financial analysts who spoke to PulseNets noted that while a stronger reserves position generally provides the CBN with more room to stabilize the currency, speculative pressures and market demand still weigh heavily on the naira.
With the latest boost, Nigeria’s foreign reserves have returned to a psychologically important benchmark, giving policymakers some fiscal breathing space. Still, experts told PulseNets that the persistence of naira depreciation underscores deeper structural issues in the country’s forex market.
