Key points
- Tinubu Stakeholders Forum says Nigeria’s net foreign reserves have risen from about $3 billion in 2023 to over $40 billion.
- The group attributes the increase to the Federal Government’s economic reforms.
- It says stronger reserves improve exchange-rate stability and investor confidence.
- The forum urges the government to sustain reform policies.
Main story
The Tinubu Stakeholders Forum (TSF) has described the reported increase in Nigeria’s net foreign reserves from about $3 billion in 2023 to more than $40 billion as a positive indicator of the country’s economic recovery.
The group’s Chairman, Ahmad Sajoh, and Secretary, Danjuma Sada, made the position known in a joint statement issued on Monday in Abuja.
According to them, the improvement reflects the impact of economic reforms introduced by President Bola Tinubu and represents one of the most significant gains in Nigeria’s external financial position in recent years.
The forum attributed the growth in net foreign reserves to reforms including the unification of the foreign exchange market, greater transparency in foreign exchange management, improved monetary policy coordination and measures aimed at restoring investor confidence.
The group noted that, unlike gross external reserves, net foreign reserves represent foreign exchange resources that are readily available to support the economy after accounting for liabilities and other obligations.
It said the stronger reserve position would improve Nigeria’s capacity to meet external obligations, finance critical imports, absorb external shocks and reduce dependence on costly short-term foreign borrowing.
According to the forum, stronger reserves also support exchange-rate stability, improve foreign exchange availability for manufacturers and investors, and create a more predictable business environment.
The group added that the improvement sends a positive signal to international investors by strengthening confidence in Nigeria’s macroeconomic management and supporting increased investment, production and job creation.
The forum commended President Tinubu and the leadership of the Central Bank of Nigeria (CBN) for sustaining the reform programme despite initial economic challenges.
It also urged the government to maintain policies that promote exports, deepen domestic production, attract long-term investment and preserve macroeconomic stability.
The issues
Nigeria has implemented a series of economic reforms aimed at improving fiscal and monetary stability. Supporters argue that stronger external reserves enhance economic resilience, while analysts continue to monitor how the reforms translate into lower inflation, exchange-rate stability and broader economic growth.
What’s being said
“The transformation of Nigeria’s net foreign reserves from approximately three billion dollars to more than 40 billion dollars… reflects the growing credibility of Nigeria’s economic management and the success of reforms.” — Tinubu Stakeholders Forum
What’s next
The government is expected to continue implementing policies aimed at strengthening external reserves, boosting exports, attracting investment and maintaining macroeconomic stability.
Bottom line
The Tinubu Stakeholders Forum says the reported rise in Nigeria’s net foreign reserves demonstrates the impact of recent economic reforms and provides stronger financial buffers for the economy, while calling for sustained policy implementation to preserve the gains.
 has described the reported increase in Nigeria's net foreign reserves from about $3 billion in 2023 ...){kind=link}