Nigeria’s net foreign reserves recorded a sharp rise at the end of 2025, climbing to $34.80 billion, the Central Bank of Nigeria has said. The increase in foreign reserves was revealed in a statement issued on Monday by the apex bank, saying the reserve positions highlight the bank’s ongoing reforms and external sector adjustments. According to the CBN governor, Olayemi Cardoso, the improvement represents a substantial strengthening in both the level and quality of Nigeria’s external buffers over the past three years. Mr Cardoso stated that net reserves increased by 51.0 per cent, from $23.11 billion at the end of 2024 to $34.80 billion at the close of 2025, a $11.69 billion increase over one year. He added that the gross external reserves increased to $45.71 billion from $40.19 billio...