₦airaland Forum

Nigeria’s foreign exchange reserves have risen from $32.9 billion at end 2023 to more than $38.448 billion as at June 2025.

This was disclosed on Sunday 22 June 2025 by the Chairperson of the House of Representatives Committee on National Planning and Economic Development, Mr Gboyega Nasir Isiaka.

Isiaka, who represents Yewa North/Imeko-Afon Federal Constituency of Ogun State in the House, announced this during a media session at Abeokuta, capital of Ogun State.

He also added that the country’s fiscal deficit has narrowed remarkably, stressing that this indicates stronger financial discipline plus improved economic management in the country.

NaijaphiliaBlog:
https://x.com/NaijaphiliaBlog/status/1937197720818647271

Ibusho:
The Federal Government on Friday received a $2.25b foreign exchange support facility from the African Import-Export Bank.

The Minister of Finance, Wale Edun, confirmed this to Arise TV, said it is the first tranche of the $3.3bn facility from the bank. He noted that the loan was aimed at resolving the acute FX shortage that has hampered the economy.

According to the report monitored by our correspondent, the balance of $1.05bn will be received in the first week of January.

Edun stated that work has commenced for solutions to Nigeria’s economic challenges.

In August, the Nigerian National Petroleum Company Limited announced that it had secured a $3bn emergency loan from the Afrexim Bank to stabilise the country’s volatile foreign exchange market.

https://punchng.com/fg-receives-2-25bn-afrexim-bank-loan/

HitRun:
I remember when during Jonathan, Nigeria was ranked the largest economy in Africa and Nigerians were sneering at it saying we are not seeing it in our lives.

In hindsight, we were really enjoying but were being ungrateful…lol. Today, it’s premium suffering.

thisweekng:
The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.

He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.

He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.

“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.

“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Private sector to drive the economy

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

UpaIweka:
Waiting patientky to hear pandora criminal from Agulu's comment on this. I tot his tribesmen claim na only looting Tinubu de loot, how then dud hr manage to save all this abi dollar rain from hraven into resrrve ?!

SocialFinance:
Children of hate will call it lie because it's not bad news they love to hear

UpaIweka:
Waiting patientky to hear pandora criminal from Agulu's comment on this. I tot his tribesmen claim na only looting Tinubu de loot, how then dud hr manage to save all this abi dollar rain from hraven into resrrve ?!

immortalcrown:
No evidence in the economy. You go explain tire. Better rest.

oshiokpu:
A northern president will soon come to wipe off all the gains. Jonathan made progress, buhari wiped off all the gain. Any progress from Tinubu will most likely be wiped off by the next Northern fool.Nigeria keeps moving 2 steps forward and 2 steps backwards

immortalcrown:
No evidence in the economy. You go explain tire. Better rest.

immortalcrown:
No evidence in the economy. You go explain tire. Better rest.

Bosman17:
It’s because your own definition of a performing economy is in “Bread and butter”. There is nothing wrong with the object, you are just wearing the wrong pair of glasses!!!

HitRun:
I remember when during Jonathan, Nigeria was ranked the largest economy in Africa and Nigerians were sneering at it saying we are not seeing it in our lives. In hindsight, we were really enjoying but were being ungrateful…lol. Today, it’s premium suffering.

oshiokpu:
A northern president will soon come to wipe off all the gains. Jonathan made progress, buhari wiped off all the gain. Any progress from Tinubu will most likely be wiped off by the next Northern fool.Nigeria keeps moving 2 steps forward and 2 steps backwards