Nigeria TV Info – Nigeria’s External Reserves Hit $42bn, Highest in Six Years

Abuja, Nigeria – Nigeria’s gross external reserves have climbed to $42 billion, marking the highest level in six years, according to the latest figures from the Central Bank of Nigeria (CBN).

The increase was largely driven by stronger hydrocarbon export revenues and a steady inflow of foreign exchange (forex), the apex bank disclosed.

The new figure is the highest since September 2019, reinforcing positive momentum in the country’s reserves position.

The surge follows an impressive performance in August when the reserves hit about $41 billion — the highest in nearly four years — after crossing the $40 billion threshold earlier that month. That milestone represented a 44-month high since late 2021.

Analysts say the strengthening reserves signal improved liquidity and could help boost investor confidence as Nigeria continues to navigate global economic headwinds.