By Atoyebi Nike
Nigeria’s foreign exchange market turnover rose by 56.4 percent to 8.6 billion dollars in 2025, up from 5.5 billion dollars in 2024.
Central Bank Deputy Governor for Economic Policy Mohammed Abdullahi said the increase reflects the impact of monetary and fiscal reforms that improved liquidity, transparency and investor confidence. He spoke at the Nigeria Investors Forum during the IMF and World Bank Annual Meetings.
He said the bank introduced an order-based quotation system and remittance reforms to strengthen market efficiency. Reserves climbed to 43.4 billion dollars in October, covering 11 months of imports. Nearly 13 billion dollars was released to banks between 2024 and 2025 to support reserve growth.
CBN Governor Olayemi Cardoso assured investors of the government’s commitment to stability and a stronger investment climate. He said rising reserves show resilience and growing trust in the economy.
Presidential adviser Sanyade Okoli projected GDP growth of seven percent between 2027 and 2028 and noted that oil now accounts for only four percent of GDP, down from eight percent in 2021. She said public-private partnerships in roads, power and digital infrastructure will support growth. Thirteen percent of sectors grew above seven percent in the second quarter.
Cardoso added that Nigeria’s trade surplus has reached six percent of GDP, supported by sound macroeconomic policies.
