Echotitbits – Nigeria News

Tag: foreign reserves

  • Naira Dips Slightly as Foreign Reserves Rise to $45.6 Billion

    Naira Dips Slightly as Foreign Reserves Rise to $45.6 Billion

    Figures cited by Daily Post show the naira recorded a mild dip at the official market, trading around ₦1,419.72 per dollar after a strong early-year run. The move marked the currency’s first reported depreciation of 2026.

    At the same time, the Central Bank of Nigeria said foreign reserves continued to rise, reaching about $45.64 billion, suggesting a strategy of building liquidity buffers rather than heavy immediate market intervention.

    The parallel market was also reported to have softened slightly. Analysts cited seasonal Q1 import demand and post-holiday business activity as factors behind short-term volatility.

    Vanguard and Leadership carried related market commentary, including calls to watch CBN liquidity actions and policy signals.

    Echotitbits take: A small dip isn’t panic territory. Rising reserves give the CBN more room to stabilize markets if pressure builds—watch policy signals at the next MPC meeting.

    Source: Daily Post – https://dailypost.ng/2026/01/02/naira-records-n100-appreciation-against-dollar-foreign-reserves-rise-to-45-5bn-in-2025/ 2026-01-09

    Photo Credit: Daily Post

  • CBN projects FX reserves could hit $51bn by 2026

    CBN projects FX reserves could hit $51bn by 2026

    2025-12-31 08:21:00

    Figures cited by PUNCH show the Central Bank of Nigeria expects external reserves to climb to about $51.04bn in 2026, up from a projected $45bn in 2025, based on assumptions about FX-market conditions and inflows.

    The forecast is tied to the CBN’s 2026 macro outlook, leaning on expectations of reduced pressure in the FX market, improved export earnings, and higher remittance inflows.

    CBN also points to refining capacity and broader reforms as potential tailwinds that reduce import pressure and support reserve accumulation over time.

    Validation: Channels Television said “The external reserves are projected at $51.04bn in 2026, compared with $45.01bn in 2025.” and The Guardian reported “external reserves… to rise to US$51.04 billion.”

    Echotitbits take: This projection is optimistic—and markets will judge credibility by liquidity and transparency. Watch the drivers: oil receipts, diaspora remittances, and whether FX spreads truly narrow across official and parallel windows.

    Source: The Punch — 31 December 2025 (https://punchng.com/fx-reserves-to-hit-51bn-by-2026-cbn/)

    The Punch 31 December 2025

    Photo Credit: The Punch