Nigeria, May 20 -- The Central Bank of Nigeria (CBN) said Nigeria's gross external reserves stood at $49.49 billion as of 15 May, providing an import cover of 9.04 months for goods and services.

CBN governor Olayemi Cardoso revealed the figure at the press briefing held after the 305th Monetary Policy Committee (MPC) meeting on Wednesday in Abuja.

According to CBN, Nigeria's non-oil sector grew in the fourth quarter of 2025. This is attributed to key activities in the services sector, including information and communication, and transportation and storage activities.

The country also recorded growth in the oil sector in the fourth quarter of 2025, driven by improved refining in the downstream sector.

The CBN governor said the gross ex...