Nigeria’s foreign exchange reserves have recorded a significant boost, rising from $37.195 billion on July 1, 2025, to $40.159 billion as of August 7, 2025, according to data from the Central Bank of Nigeria (CBN).

The update was disclosed Monday by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, who noted that the figures reflect improved management of the nation’s economy.

Onanuga recalled that when President Tinubu assumed office on May 29, 2023, the reserves stood at $32 billion, with most of it encumbered. “Surely, the management of the economy is in good hands, as positive indicators abound in other sectors,” he stated.

The Presidency has consistently pointed to recent gains in key macroeconomic indices as signs of recovery and renewed investor confidence in Nigeria’s economy.