The Nigerian naira recorded a remarkable gain in 2025, appreciating nearly N100 against the US dollar, while the country’s foreign reserves rose to $45.5 billion.

The naira closed the year at N1,435.76 per dollar on December 31, 2025, up from N1,535 at the end of 2024. Foreign reserves increased by $4.6 billion, growing from $40.9 billion in the previous year.

This marks a 6.68 percent appreciation for the naira and an 11.05 percent rise in foreign reserves, indicating a steady recovery following the 40.9 percent decline recorded in 2024.

The Central Bank of Nigeria (CBN) attributed the improvement to policy and institutional reforms, alongside stable crude oil prices that supported economic growth. In its 2026 Economic Outlook, the bank stated: “The fiscal space improved in 2025, owing to policy and institutional reforms, as well as stable crude oil prices fostering growth.”