Naira Closes 2025 at N1435/$ with $45.488bn in External Reserves
With gross external reserves totalling $45.488 billion, the naira closed 2025 strong, appreciating to N1435 per US dollar at the Nigerian foreign exchange market on Wednesday.
The official exchange rate was bolstered by the Central Bank of Nigeria’s (CBN) sustained FX intervention in support of local inflows, as year-end effects led to a significant dollar outflow in the fourth quarter.
The CBN funded a significant outflow amid a sharp reduction in FX inflows into the currency market, recording a 95% weekly decline, according to Coronation Merchant Bank Limited.
CBN updated FX data showed that the naira appreciated by 0.69% to ₦1,435.76/$ at the official window during the last trading session of the year.
In the parallel market, the local currency dropped by 0.37% to ₦1,470/$, reflecting divergent currency dynamics between the regulated official segment and the informal foreign exchange market as the year draws to a close.
Gross external reserves climbed to $45.889 billion as of Dec.30 as Nigeria recorded successive inflows from across sources amidst a drop in oil output.
Nigeria’s oil output dropped year-on-year (YoY) to 1.599 million barrels per day (bpd), including condensate, in November 2025 from 1.698 million bpd in the corresponding period of 2024, indicating a decrease of 5.9 percent.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its December 2025 Crude Oil and Condensate Production report.
However, on a month-on-month (MoM) basis, the nation’s oil output, including condensate, dropped to 1.599 million bpd in November 2025 from 1.698 million bpd in October 2025.
According to the report, “Lowest and Peak Combined crude oil and condensate production in November were 1.54 million bopd and 1.79 million bopd, respectively.
“The average crude oil production of November was 96% of the OPEC quota (1.5 mbpd). Daily average production in November was 1,599,054 barrels per day, comprising both crude oil (1,436,005 bopd) and condensate (163,049 bopd).” #Naira Closes 2025 at N1435/$ with $45.488bn in External Reserves#
