Nigeria's Net Foreign Exchange Reserve

 🇳🇬NIGERIA'S NET FOREIGN EXCHANGE RESERVE

2021 — $14.59 billion

2022 — $8.19 billion

2023 — $3.99 billion

2024 — $23.11 billion

May 2025 — $5.96 billion

FX inflows surged by 62 percent month-on-month in May 2025 to reach $5.96 billion, one of the highest levels in recent times.

#Statisense

(CBN)

The post highlights Nigeria's fluctuating foreign exchange reserves, dropping from $14.59 billion in 2021 to $3.99 billion in 2023, then surging to $23.11 billion in 2024, before a reported $5.96 billion inflow in May 2025, reflecting volatile economic policies and market reforms, including the Central Bank of Nigeria's recent shift to automate FX trades starting December 2024 to boost transparency.

Confusion in the data presentation stems from unclear differentiation between annual reserves and monthly inflows, as May 2025's $5.96 billion represents a 62% month-on-month surge rather than the total reserve, aligning with a Q1 2025 net inflow of $15.20 billion reported by Nairametrics, suggesting a rebound driven by investor confidence and diaspora remittances.

Historical context reveals Nigeria's reserves hit a peak of $62.1 billion in September 2008 per CEIC data, yet recent economic forecasts from PwC warn of potential 2025 challenges like naira pressure and GDP growth decline due to global trade tensions, challenging optimistic projections like the $45 billion reserve target for December 2025.

https://x.com/StatiSense/status/1944809661720666195?t=Y4kqjNWJnzEgJVzXNX690w&s=08