**Nigeria's Foreign Exchange Reserves Surge by 772% in Two Years** In a remarkable turn of events, Nigeria's net foreign exchange reserves have skyrocketed by a staggering 772% in just two years, reaching a whopping $34.80 billion as of December 2025. This impressive growth, announced by Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, marks a significant milestone in the country's economic journey. According to Cardoso, the substantial increase in net reserves is largely due to the improved transparency and credibility in foreign exchange management, which has boosted investor confidence and attracted stronger foreign exchange inflows. This, in turn, has enhanced the quality of Nigeria's external buffers, making the country's economy more resilient and better equipped to meet its external obligations. Another notable aspect of this development is that the 2025 net reserve position alone exceeded the total gross reserves recorded at the end of 2023. Additionally, the net reserves rose from $23.11 billion at the end of 2024 to $34.80 billion at the end of 2025, while gross external reserves increased to $45.71 billion from $40.19 billion over the same period. This expansion highlights Nigeria's enhanced capacity to maintain exchange rate stability and reinforce overall macroeconomic resilience. Cardoso's announcement is a testament to the CBN's commitment to maintaining adequate reserve buffers and supporting orderly foreign exchange market operations. The Governor reaffirmed the Bank's resolve to sustain macroeconomic stability and enhance confidence in Nigeria's external position, in line with its statutory mandate. This development is expected to have a positive impact on the country's economy, particularly in the areas of investment, trade, and economic growth.