Nigeria Reserves in Months of Imports
Total reserves in months of imports FI.RES.TOTL.MO
Nigeria's reserves in months of imports was 6.0 in 2025, ranked 31st globally. This represents a 12.4% decrease from 2024. Data from World Bank, covering 1977–2025.
Overview
Nigeria's reserves in months of imports stood at 6.0 in 2025, a decline of +0.8 from 2024. Based on recent trends, this figure is projected to reach 6.0 by 2025. Nigeria ranked 31st globally.
Nigeria’s reserves in months of imports rose from a low of 1.01 in 1983 to an all‑time peak of 19.21 in 1998, reflecting a dramatic buildup of foreign‑exchange buffers during the oil boom of the late 1990s. Over the 49‑year record, the stock has settled at 5.95 months in 2025, ranking 31st globally and placing the country just above Timor‑Leste (5.80) and slightly below Jordan (6.15). The post‑peak decline mirrors periods of currency depreciation, reduced export earnings and higher import demand, while the modest recent increase suggests a partial recovery of external financing capacity. Compared with peers such as Serbia, whose 2025 reserve level stands at 6.01 months, Nigeria remains marginally weaker but maintains a buffer that covers roughly half a year of import needs. Continued diversification of export markets and prudent fiscal management will be crucial to lift the reserve ratio above the regional median and sustain a more resilient import coverage trajectory.
Data & projection
| Year | Reserves in Months of Imports | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 6.2 | - | - |
| 2026* trend | 6.1 | - | - |
| 2025* trend | 6.0 | - | - |
| 2025 | 6.0 | −0.8 | #31 |
| 2024 | 6.8 | +1.9 | #25 |
| 2023 | 4.9 | +0.2 | #61 |
| 2022 | 4.7 | −1.6 | #68 |
| 2021 | 6.2 | +0.6 | #57 |
| 2020 | 5.6 | +1.5 | #79 |
| 2019 | 4.1 | −2.0 | #87 |
| 2018 | 6.1 | −1.9 | #45 |
| 2017 | 8.0 | +1.8 | #30 |
| 2016 | 6.2 | +2.1 | #50 |
| 2015 | 4.1 | +0.1 | #85 |
| 2014 | 3.9 | −1.2 | #81 |
| 2013 | 5.1 | −0.1 | #53 |
| 2012 | 5.2 | +1.7 | #52 |
| 2011 | 3.5 | −0.8 | #90 |
Detected Pattern
Analysis
Nigeria matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw reserves in months of imports improve within 24 months. View full analysis →
Frequently Asked Questions
Nigeria's reserves in months of imports was 6.0 in 2025. Ranked 31st globally. This represents a 12.4% decrease from the previous year.
Nigeria's reserves in months of imports peaked at 19.2 in 1998.
The lowest reserves in months of imports in Nigeria was 1.0 in 1983.
Nigeria ranks 31st globally in reserves in months of imports as of 2025.
The World Bank indicator code is FI.RES.TOTL.MO. Data sourced from World Bank.
Nigeria's reserves in months of imports is projected to reach 6.0 by 2025 based on trend extrapolation.
The reserves in months of imports of Nigeria in 2025 was 6.0. This ranks 31st in the world.
Cite this page
@misc{historysaid_nigeria_reserves-months-imports,
title = {Nigeria Reserves in Months of Imports},
url = {https://historysaid.com/nigeria/reserves-months-imports/},
publisher = {HistorySaid},
year = {2026}
}