Nigeria foreign exchange (Forex) reserves jumped from “$37.195 billion on July 1, 2025, to $40.159 billion on August 7”, Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, posted on X.
When the President assumed office in May 2023, the reserve was “₦32 billion” with most of it “encumbered”.
According to Bayo Onanuga: “Nigeria’s FOREX reserves jumped from $37.195 billion on July 1, 2025, to $40.159 billion on August 7, according to data about movement in reserves published by the Central Bank of Nigeria on its website today.
“When President Tinubu took over on 29 May 2023, the reserve was $32 billion, with most of it encumbered. Surely, the management of the economy is in good hands, as positive indicators abound in other sectors.”
