Nigeria’s external reserves have continued their upward trend, climbing for the 10th consecutive week to reach 41.66 billion dollars, according to the Central Bank of Nigeria (CBN).

The CBN attributed the steady growth to improved foreign exchange inflows from oil and non-oil exports, increased diaspora remittances, and strategic monetary policies championed by President Bola Ahmed Tinubu, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, alongside the CBN Governor.

Analysts note that the consistent rise in reserves provides Nigeria with a stronger buffer to defend the naira, meet external obligations, and support critical imports. It also signals renewed confidence in the economy as reforms in the oil and gas sector, foreign exchange management, and fiscal policy continue to yield results.

The CBN assured that it will sustain policies that promote reserves accretion while maintaining a stable macroeconomic environment to drive growth and safeguard Nigeria’s financial system.