The Central Bank of Nigeria (CBN) announced on August 22, 2025, that the country’s gross foreign exchange reserves have reached a 4-year high of $41.05 billion, up from $38.6 billion in July. CBN Governor Olayemi Cardoso attributed this growth to increased diaspora remittances and foreign investments, stating, 'This is a significant milestone, and we are targeting $100 billion in reserves by 2027 to stabilize the economy.' Analysts note that this could strengthen the naira and improve Nigeria’s credit rating, though challenges like oil price volatility remain.
The US Bureau of Labor Statistics released inflation data on August 21, 2025, showing a higher-than-expected rise of 3.2% annually, prompting volatility in global markets. Stocks in major indices like the S&P 500 dropped by 1.5%, while the dollar strengthened. Federal Reserve Chairman Jerome Powell stated, 'We are monitoring the data closely and will adjust policies as needed.' Analysts predict potential interest rate hikes, impacting emerging markets like Nigeria through reduced foreign investment.
The Central Bank of Nigeria (CBN) has announced that the country’s gross foreign exchange reserves have reached a 4-year high of $41.05 billion as of August 2025. This milestone, attributed to increased oil revenues and diaspora remittances, marks a significant improvement in Nigeria’s economic stability. The CBN Governor, speaking in Abuja, stated, 'Our target is to build reserves to $100 billion in the medium term to cushion against external shocks.' Analysts note that this could strengthen the naira and boost investor confidence if sustained.