Nigeria’s external reserves have surged to a six-year high, reaching $45.04 billion as of December 4, 2025, according to new data from the Central Bank of Nigeria, CBN.

The latest figure marks one of the strongest reserve positions the country has recorded since July 23, 2019, when reserves last stood at the same level. The development reflects a notable improvement from September 19, when reserves were at $42.03 billion.

With nearly $5 billion added within a few months, the growth signals stronger inflows, likely driven by improved crude oil earnings, Eurobond-related transactions, or support from multilateral institutions. A healthier reserve position gives the CBN greater capacity to manage pressures in the foreign exchange market.

Despite the positive foreign reserves trend, the naira weakened to its lowest level in two months last week, closing at N1,450.43 per dollar on Friday.