₦airaland Forum

Nigeria's external reserves since 1999 by different administrations

🟢OBASANJO — grew by 845%
May 1999 — $4.99 billion
May 2007 — $43.17 billion

🔴YAR'ADUA — dropped by 6.6%
May 2007 — $43.17 billion
Apr 2010 — $40.32 billion

🔴JONATHAN — dropped by 29%
Apr 2010 — $40.32 billion
May 2015 — $28.57 billion

🟢BUHARI — grew by 20%
May 2015 — $28.56 billion
May 2023 — $34.39 billion

🟢TINUBU [Ongoing] — grew by 19%
May 2023 — $34.38 billion
As of 20 Jan 2026 — $46.012 billion ( the highest in history )

CBN/Statisense
(CBN)

Jonathan administration really destroyed Nigeria.

johnmartus:
Jonathan administration really destroyed Nigeria.

Why did you single out Jonah...?

You can't use only foreign reserve to pass your judgement. The drop during Jonah's time was due to oil price volatility and foreign exchange interventions.

We have had many destroyers the only people excepted ( I personally) are obasanjo and probably yaradua because his tenure was too short lived to pass a judgement.


The rest are a bunch of scallies and that's not judging by foreign reserves alone but how they were generally able to manage the economy!

The poor masses has no business with External reserves, it should be called Presidential reserve because na dem dey benefit from am.

All we are asking is simple make....food, clothing and shelter affordable for the masses.

Highest in history, Jagaban for a reason. GEJ dropped it like soap, unforgivable if not for God.

Mom bo let me see something first

This people most hear this

Someone should enlighten me pls.
What's the meaning of external reserve?

johnmartus:
Jonathan administration really destroyed Nigeria.

Very weak president, he and Buhari not know the weakest.

Human beings don't deserve, ...."I trust you go and handle it", not even Nigerians.

jonathan had no idea on governance if not for circumstance he wont have come close to aso rock, he enabled this present government to get into power due to his incompetence

brain54:
Why did you single out Jonah...?

You can't use only foreign reserve to pass your judgement. The drop during Jonah's time was due to oil price volatility and foreign exchange interventions.

We have had many destroyers the only people excepted ( I personally) are obasanjo and probably yaradua because his tenure was too short lived to pass a judgement.


The rest are a bunch of scallies and that's not judging by foreign reserves alone but how they were generally able to manage the economy!

So jona that did 7and half years is not bad
but Uncle Tinubu
thats not up to 4 years is bad

See bad belle oooooo

Nothing u do will make your hater like a you

I swear nothing I no go see for this E brother hand

Jonathan was the must dumbest president since 1999.

He lacked ideas. Was very jittery.

johnmartus:
Jonathan administration really destroyed Nigeria.

Love800:
Someone should enlighten me pls.
What's the meaning of external reserve?

Money or valuable saved by various governments in dollars or major currencies in foreign countries.

They all performed poorly, but Obasanjo was better than the rest while Jonathan and Buhari were the worst.

.. Buhari in particular put Nigeria one step forward but five steps backward

Congratulations bro
Enjoy

External reserve, how about internal positive change?
Not to mention the inflation on currency between then and now, even dollars suffer from inflation.

But since Nigerians don't like the truth or many are partially having memory lapses, just enjoy your external reserves, bro

johnmartus:
Jonathan administration really destroyed Nigeria.

He was busy sleeping with Diezani-Madueke

brain54:
Why did you single out Jonah...?

You can't use only foreign reserve to pass your judgement. The drop during Jonah's time was due to oil price volatility and foreign exchange interventions.

We have had many destroyers the only people excepted ( I personally) are obasanjo and probably yaradua because his tenure was too short lived to pass a judgement.


The rest are a bunch of scallies and that's not judging by foreign reserves alone but how they were generally able to manage the economy!

Under Jonathan, oil price went to $140/Barrel.

So they should have saved more if he was prudent.

Under Buhari down to Tinubu, oil price is yet to clock $100

That's 8 years Buhari plus 3 years Tinubu, oil yet to reach $100

Why is PMB not in the poll.

Yet another misleading narrative designed to deceive the unwary.

Other administrations have achieved these figures during fuel subsidy regime.

Obasanjo actually revised our foreign reserve upward through a significant increase in petroleum product prices during his administration. Despite that, he obtained excellent results, and yet he was criticized by the very forces that seek to impose a false narrative on us.

Vipro:
The poor masses has no business with External reserves, it should be called Presidential reserve because na dem dey benefit from am.

All we are asking is simple make....food, clothing and shelter affordable for the masses.

You don't even know what's called external reserves

richiemcgold:
They all performed poorly, but Obasanjo was better than the rest while Jonathan and Buhari were the worst

OBJ stabilised the economy after taking over from Military that had no economic plan.

Thanks to OBJ

richiemcgold:
They all performed poorly, but Obasanjo was better than the rest while Jonathan and Buhari were the worst

yeah but still 8 is different from 4

brain54:
Why did you single out Jonah...?

You can't use only foreign reserve to pass your judgement. The drop during Jonah's time was due to oil price volatility and foreign exchange interventions.

We have had many destroyers the only people excepted ( I personally) are obasanjo and probably yaradua because his tenure was too short lived to pass a judgement.


The rest are a bunch of scallies and that's not judging by foreign reserves alone but how they were generally able to manage the economy!

Despite seeing the evidence on how Jonathan depleted the foreign reserve during his 6 years tenure you still looking to blame other people if possible you will reign insult on Tinubu. The truth is that Nigeria economy started destroying during Jonathan in fact many economy experts predicted that the govt after Jonathan will suffer the damages caused by Jonathan administration

brain54:
Why did you single out Jonah...?

You can't use only foreign reserve to pass your judgement. The drop during Jonah's time was due to oil price volatility and foreign exchange interventions.

We have had many destroyers the only people excepted ( I personally) are obasanjo and probably yaradua because his tenure was too short lived to pass a judgement.


The rest are a bunch of scallies and that's not judging by foreign reserves alone but how they were generally able to manage the economy!

Gej's management of the economy was abysmal.....we still haven't matched oil revenues as obtainable during his time,i appreciate the fact you mentioned he kept intervening in the forex market but I hope you understand he was borrowing heavily to keep the dollar price low and also paying subsidies which were unsustainable and was also followed through by buhari which put us in the economic mess we are in today.

I thought PMB 34b have been debunked to be a lie. So why haven't statisense noted it.

Jonathan werey... How did he even become a professor abi na lecturer.. normally that man and deziani should be in Jail.

I wouldn't doubt that the foreign reserves dropped by 29% under Jonathan. During his time in office we were doing a lot of importing ... everybody is as an importer...we imported everything ...produced about nothing and exported about nothing.
Under Buhari ...I wouldn't argue with the increase in foreign reserves. When he came in the price of oil plummeted...like wayyy down to cost of production and that was our main source of income to build the reserves. But ...he restricted the importation of a lot of products .... like rice ..which ate up reserves ...closed borders and encourag local production. I guess this gave the reserv s a boost.
Tinubu ....no way ...unless the money he borrowed was put into the foreign reserves account. I would rather believe the FR suffered a 46% loss.

The figures here show the gross external reserves and not the net reserves. The net reserves show the actual reserves the central bank has access to, and it and does not include the encumbered amount.

Tinubu actually met $3.99bn as net foreign reserves.

Chai. It grew in recent times, but the masses are suffering. Na wa o