Experts Applaud CBN’s $48.5bn Reserve Buffer Amid Global Turmoil

Economists say the Central Bank of Nigeria’s external reserves, now at $48.54 billion, have held steady despite shocks facing emerging markets. They believe this level signals stronger liquidity and growing investor confidence in Nigeria’s foreign exchange market. Dr. Uju Ogubunka noted that ample reserves ease fund repatriation and bolster stability. She urged continued investment in productive sectors and critical infrastructure to sustain reserve growth and ease economic hardships. Benjamin Akinsoto added that Nigeria’s reserves can cover up to 12 months of imports, far above the three-month international benchmark. He praised recent CBN reforms as key to long-term recovery and resilience against global uncertainties.

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