Nigeria Records Significant Surge in Foreign Exchange Reserves, Consolidates Reform Agenda

BY Bamidele Atoyebi
August 24, 2025
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PRESS RELEASE

The Federal Government of Nigeria has announced a notable improvement in the nation’s foreign exchange (FX) reserves, reflecting the impact of ongoing reforms aimed at strengthening financial stability and restoring investor confidence.

Recent figures confirm that Nigeria’s FX reserves have sustained an upward momentum, reinforcing the administration’s commitment to transparent economic management and long-term fiscal sustainability. This development stems from deliberate measures to diversify revenue sources, plug loopholes, attract foreign inflows, and reduce pressure on the naira.

The surge in reserves complements broader reforms introduced under the Renewed Hope Agenda. In recent months, the government has:

• Approved the Kano railway project to unlock regional trade and strengthen national infrastructure.
• Launched a subsidy for dialysis treatment, easing the financial burden of chronic kidney disease patients nationwide.
• Removed excise taxes on calls and data to accelerate growth in Nigeria’s digital economy.
• Expanded the Nigerian Education Loan Fund (NELFUND), which has already provided access to higher education financing for over 396,000 students across all 36 states.

These reforms demonstrate a coordinated effort to align fiscal and social policies, ensuring Nigerians feel the direct impact of governance in their daily lives.

The Federal Government underscores that the growth in FX reserves is not only a marker of macroeconomic stability but also a safeguard that ensures the nation can meet its international obligations, support trade, and provide a buffer against global economic shocks.

Looking ahead, the government reaffirms its commitment to deepening structural reforms, consolidating current gains, and delivering policies that guarantee stability, inclusiveness, and sustainable growth for all Nigerians.

Signed,
Hon. Bamidele Atoyebi.
Accountability and Policy Monitoring.