₦airaland Forum

Nigeria’s foreign reserves have risen to $46.7 billion, which is the highest reached in nearly 7 years and which now provides about 10.3 months import cover.

This was disclosed on Thursday 04 December 2025 by the Governor of the Central Bank of Nigeria (CBN) Olayemi Michael Cardoso.

He made the disclosure while addressing the senate committee on banking, insurance and other financial institutions.

He also informed the senators of the following:

* Gap between official/parallel market FX rates now less than 2% from over 60% one year ago.
* Average FX rate N1,442.92/$ at 26Nov2025 from N1,551.08/$ in first half of 2025.
* Diaspora remittances have jumped from $200 million per month to about $600 million in recent months.
* Inflation has fallen for 7 consecutive months to 16.05% in October, the lowest in 3 years.



SOURCE
https://x.com/NaijaphiliaBlog/status/1997066138401018330

We are making progress sha.

ebukal67x:
We are making progress sha.

In what? Was good with numbers on paper

bmd1010:
In what? Was good with numbers on paper

Read it again, albeit slowly, since you have issues with English comprehension.

Your anger is that it's not bad news. Those who don't see good in the land will not recieve good from the land. Ko ju be lọ.

Congratulations to every patriotic Nigerian.
May God continue to bless Nigeria.


Thank you President Bola Ahmed Tinubu, GCFR.

Good job, Mr. Cardoso.

But Nigerians are hungry, what is the gain?

ebukal67x:
We are making progress sha.

So how come local contractors are still being owed and we are operating the 2024 budget in December 2025? At this rate, we might as well skip implementation of the 2025 budget entirely. The Nigeria that was handed over to Tinubu was one where a budgeting year began in January and ended in December. Tinubu is still yet to submit the 2026 budget to the National Assembly and has long surpassed Buhari’s borrowings.

Foreign reserve increases, inflation has fallen (on paper), however an average Nigerian is still impoverished. Na statistics we go chop?

Only if this development news wont send some people into a coma

pdppower:
Foreign reserve increases, inflation has fallen (on paper), however an average Nigerian is still impoverished. Na statistics we go chop?

Just tell us about your current situation without lumping others into it

TO WALE EDUN AND CARDOSO, PLEASE, IS U.S BANK NIGERIA INCORPORATED?

pdppower:
Foreign reserve increases, inflation has fallen (on paper), however an average Nigerian is still impoverished. Na statistics we go chop?

Abeg, ask them o


'Na highest reserve in seven years we go chop'

Good news

Our economy is taking shape. I am particularly happy about inflation. They should continue to work hard, we want to see it at single digit.

pdppower:
Foreign reserve increases, inflation has fallen (on paper), however an average Nigerian is still impoverished. Na statistics we go chop?

Even some people were poor at promise land according to the bible. People with kind of your mindset can't come out of poverty even if Nigeria has the best economy in the world.

FreeStuffsNG:
Read it again, albeit slowly, since you have issues with English comprehension.

Your anger is that it's not bad news. Those who don't see good in the land will not recieve good from the land. Ko ju be lọ.

Congratulations to every patriotic Nigerian.
May God continue to bless Nigeria.


Thank you President Bola Ahmed Tinubu, GCFR.

Please zip it already.

What’s the need in increasing foreign reserve but borrowing our soul away?

Almost every week, Tinubu is requesting approval from NASS for a new loan and you want us to celebrate increase in foreign reserve?

We thank God for small mercies.

AMINDA:
So how come local contractors are still being owed and we are operating the 2024 budget in December 2025? At this rate, we might as well skip implementation of the 2025 budget entirely. The Nigeria that was handed over to Tinubu was one where a budgeting year began in January and ended in December. Tinubu is still yet to submit the 2026 budget to the National Assembly and has long surpassed Buhari’s borrowings.

There has never been a time since 1999 when capital budget started and ended between January and December. It has always been extended to May of the following year. And yes, Buhari took some very crazy and reckless ways and means to fund capital budget during his time. The effect of those crazy decisions are what the Tinubu administration is trying to mitigate. We won’t go and such a reckless journey to fund the budget. The Tinubu government will do all it takes to achieve Macroeconomic stability which is what you are seeing. The effect will trickle down to the micro. That’s how to build a solid economy and not to employ disastrous policies that have recked the economy over the years.

The highest in 7 years yet the naira dollar value is the lowest in 7 years.

seunmsg:
There has never been a time since 1999 when capital budget started and ended between January and December. It has always been extended to May of the following year. And yes, Buhari took some very crazy and reckless ways and means to fund capital budget during his time. The effect of those crazy decisions are what the Tinubu administration is trying to mitigate. We won’t go and such a reckless journey to fund the budget. The Tinubu government will do all it takes to achieve Macroeconomic stability which is what you are seeing. The effect will trickle down to the micro. That’s how to build a solid economy and not to employ disastrous policies that have recked the economy over the years.

Lol. The data shows that in just two years, Tinubu has already outborrowed all Buhari’s loans combined for the duration of his 8 years. Buhari also had more tangible projects at the end of his first tenure than Tinubu will have. He did all these while paying fuel and electricity subsidies that Tinubu claims to have removed. The proposed budget deficit for next year is also unprecedented, meaning Tinubu will be borrowing even more despite the impending taxation of Nigerians. It's December, the 2025 budget is yet to be implemented and we are still running 2023 and 2024 budgets concurrently. This has never happened. Admit it, Buhari has surpassed your tin-god in all governance metrics.

Gap between official/parallel market FX rates now less than 2% from over 60% one year ago.
* Average FX rate N1,442.92/$ at 26Nov2025 from N1,551.08/$ in first half of 2025.
* Diaspora remittances have jumped from $200 million per month to about $600 million in recent months.
* Inflation has fallen for 7 consecutive months to 16.05% in October, the lowest in 3 years.

Very much impressed.. great job mr Cardoso and the CBN team.

We hope inflation goes further down to around 10% then single digits.

Nigeria 🇳🇬 will truly be great again 🙏

What I can conclude in all this is that Cardoso is doing his job well at CBN. But the continuous and reckless borrowing by this government no go let the positive impact reach Nigerians hand. Imagine that we are going to use 25% of next year's budget to service loans, wetin come remain? Tinubu just has to sit up and do better o.

Awesome! Thank you Mr. Cardoso. God bless Nigeria for ever!

seunmsg:
There has never been a time since 1999 when capital budget started and ended between January and December. It has always been extended to May of the following year. And yes, Buhari took some very crazy and reckless ways and means to fund capital budget during his time. The effect of those crazy decisions are what the Tinubu administration is trying to mitigate. We won’t go and such a reckless journey to fund the budget. The Tinubu government will do all it takes to achieve Macroeconomic stability which is what you are seeing. The effect will trickle down to the micro. That’s how to build a solid economy and not to employ disastrous policies that have recked the economy over the years.

Is it the same Buhari you all paraded as the savior and fixing Nigeria for 8 solid years?

Hypocrisy.

Sheuns:
Is it the same Buhari you all paraded as the savior and fixing Nigeria for 8 solid years?

Hypocrisy.

Don't mind them. We now know them for who they are. They began their attacks against Buhari from the day of Tinubu's inauguration. Before then, they hailed him as the sweetest thing next to sliced bread.

seunmsg:
There has never been a time since 1999 when capital budget started and ended between January and December. It has always been extended to May of the following year. And yes, Buhari took some very crazy and reckless ways and means to fund capital budget during his time. The effect of those crazy decisions are what the Tinubu administration is trying to mitigate. We won’t go and such a reckless journey to fund the budget. The Tinubu government will do all it takes to achieve Macroeconomic stability which is what you are seeing. The effect will trickle down to the micro. That’s how to build a solid economy and not to employ disastrous policies that have recked the economy over the years.

The same buhari you were praising, calling wonderful. I fear who no fear una