The latest data from the Central Bank of Nigeria (CBN), shows that the nation’s external reserves increased to $41,001,830,139.96, on August 19, 2025.
The report published on the CBN’s website, also shows a Net foreign reserve of $40.3 billion.
The growth which was the highest recorded since 2021, was attributed to the prudent management of the economy by President Bola Tinubu.
While contenting on the milestone, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said: “The latest milestone was reached without our country having a huge inflow from oil sales. Indeed, oil prices are sliding southwards. It’s all about the prudent management of the economy by President Bola Tinubu.
“I can bet that Atiku Abubakar, Peter Obi, Nasir El-Rufai and Babachir Lawal would never acknowledge this remarkable success.
“They are more interested in their doomed campaign to overthrow Bola Tinubu, an obsession that has blinded them to acknowledging the progress being delivered by President Bola Tinubu’s government on multiple fronts.”
The CBN is boosting FX inflows through recent reforms and policy shifts. For instance, International Money Transfer Operator (IMTOs), Willing-buyer Willing-seller model, and the recently launched Non-Resident Biometric Verification Number (NRBVN).
