-
CardinalStone report forecasts $3.2bn inflows to boost FX reserves.
-
External borrowings and portfolio investments to drive year-end rise.
-
Naira trades at N1,529.22 in official market, sustains upward momentum.
Nigeria’s foreign exchange reserves are projected to rise to $41 billion by the end of December 2025, according to a mid-year outlook report by CardinalStone, a Lagos-based research and investment firm.
The report indicated that the expected increase is slightly above the $40.88 billion recorded in 2024 and reflects sustained gains in the naira against major currencies.
CardinalStone attributed the projection to planned external borrowings of $3.2 billion by the Federal Government in the second half of the year to fund key fiscal priorities.
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
It also noted that anticipated inflows from portfolio investors could further strengthen the reserves position.
READ ALSO: Banks Resume International Transactions on Naira Cards After Three-Year Suspension
“These proposed external borrowings, alongside other anticipated inflows, will likely boost the FX reserves to $41.00 billion by year-end, compared to $37.27 billion as of H1’25,” the report said.
This development comes as the naira traded at N1,529.22 to the US dollar in the official foreign exchange market and N1,550 in the parallel market on Tuesday, maintaining an upward trajectory after months of volatility.
