Nigeria’s net foreign exchange reserve as of the end of 2024 stood at 23.11 Billion Dollars, the highest level in over three years, reflecting a substantial improvement in the country’s external liquidity.
A statement by the Central Bank of Nigeria (CBN), the increase marked an increase from 3.99 Billion Dollars at year-end 2023, 8.19 Billion Dollars in 2022, and 14.59 Billion Dollars in 2021.
Gross external reserves also increased to 40.19 Billion Dollars, compared to 33.22 Billion Dollars at the close of 2023.