Nigeria’s foreign reserves have surpassed $46 billion, the highest level since 2018.

The Central Bank Governor, Yemi Cardoso, made this disclosure at the 20th-anniversary colloquium of the Monetary Policy Department in Abuja.

Cardoso, represented by the Deputy Governor for Economic Policy, Dr. Muhammad Abdullahi, said the reserve level is strong enough to finance more than 10 months of imports.

Abdullahi added that lending rates are expected to ease in the coming months as inflation moderates, which could enhance credit access and stimulate investment.

October 2025 recorded Nigeria’s strongest foreign exchange inflows since May, driven by improved macroeconomic stability and renewed interest from offshore investors targeting Africa’s largest economy.

However, Foreign Direct Investment declined by 25 per cent month-on-month to $222 million, underscoring lingering structural issues, including insecurity and policy uncertainty, that continue to discourage long-term investment.