{"id":117091,"date":"2025-04-04T17:12:35","date_gmt":"2025-04-04T16:12:35","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=117091"},"modified":"2025-04-04T17:12:35","modified_gmt":"2025-04-04T16:12:35","slug":"fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/","title":{"rendered":"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025"},"content":{"rendered":"
\n
Daniel Adaji<\/div>\n
\n
\n
\n
\n

Nigeria\u2019s foreign exchange (FX) reserves\u00a0experienced a decline of\u00a0$2.57bn in the first quarter of 2025, reflecting a 6.29\u00a0per cent\u00a0drop over the three-month period.\u00a0This is just as data published by the Central Bank of Nigeria (CBN) revealed that Nigeria spent\u00a0a total of\u00a0$816m on foreign debt servicing during the first two months of 2025.<\/p>\n

 <\/p>\n

Of this, $540m was spent in January, while $276m was allocated for debt servicing in February.<\/div>\n
<\/div>\n
<\/div>\n

 <\/p>\n

 <\/p>\n

This data, obtained from the Central Bank of Nigeria, shows a steady decrease in the nation\u2019s reserves from January to March 2025, primarily driven by foreign debt servicing pressures.<\/div>\n
<\/div>\n

 <\/p>\n

 <\/p>\n

The CBN\u2019s external reserves data showed that Nigeria\u2019s gross foreign exchange reserves were valued at $40.88bn on January 2, 2025. By the end of the month, this figure had dropped to $39.72bn, representing a decrease of $1.16bn, approximately 2.84 per cent.<\/div>\n
<\/div>\n

 <\/p>\n

The downward trend continued into February, with reserves further declining to $38.42bn by the month\u2019s end. This marked a reduction of $1.3bn, equivalent to a 3.27 per cent drop in just one month.<\/div>\n
<\/div>\n

 <\/p>\n

In March, the reserves fell slightly further to $38.31bn, showing a more modest decline of $110m. This cumulative fall over the quarter led to a total reduction of $2.57bn.<\/div>\n
<\/div>\n

 <\/p>\n

The CBN attributed the first-quarter decline to the financial strain of foreign debt servicing. Although Nigeria began 2025 with a relatively strong reserves position, the demand to meet foreign-denominated debt obligations led to a sharp drawdown.<\/div>\n
<\/div>\n

 <\/p>\n

CBN clarified that the decline in reserves was also a result of seasonal adjustments, including substantial interest payments on foreign debt.<\/div>\n
<\/div>\n

 <\/p>\n

“Reserves have continued to strengthen in 2025. While the first quarter figures reflected some seasonal and transitional adjustments, including significant interest payments on foreign-denominated debt, underlying fundamentals remain intact, and reserves are expected to continue improving over the second quarter of this year,” the CBN noted.<\/div>\n
<\/div>\n

 <\/p>\n

The high outflows in January were primarily due to scheduled foreign debt repayments, which put considerable pressure on the country\u2019s FX reserves. Though the amount for February decreased, the persistent debt obligations continued to exert pressure on the reserves.<\/div>\n
<\/div>\n

 <\/p>\n

Despite the challenges experienced in the first quarter, the CBN remains optimistic about the outlook for Nigeria\u2019s FX reserves in the coming months. The bank expects a recovery as oil production improves and non-oil foreign exchange earnings increase.<\/div>\n
<\/div>\n

 <\/p>\n

\u201cGoing forward, the CBN anticipates a steady uptick in reserves, underpinned by improved oil production levels, and a more supportive export growth environment expected to boost non-oil FX earnings and diversify external inflows,\u201d the apex bank added.<\/div>\n
<\/div>\n

 <\/p>\n

The CBN has reaffirmed its commitment to effective reserve management and policies aimed at stabilizing the naira, attracting investment, and fostering long-term economic resilience.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Daniel Adaji Nigeria\u2019s foreign exchange (FX) reserves\u00a0experienced a decline of\u00a0$2.57bn in the first quarter of 2025, reflecting a 6.29\u00a0per cent\u00a0drop over the three-month period.\u00a0This is just as data published by…<\/p>\n","protected":false},"author":1,"featured_media":117001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-117091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nFG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025 - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025 - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Daniel Adaji Nigeria\u2019s foreign exchange (FX) reserves\u00a0experienced a decline of\u00a0$2.57bn in the first quarter of 2025, reflecting a 6.29\u00a0per cent\u00a0drop over the three-month period.\u00a0This is just as data published by…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-04T16:12:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"450\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025\",\"datePublished\":\"2025-04-04T16:12:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/\"},\"wordCount\":474,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/\",\"name\":\"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025 - Pointblank News\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg\",\"datePublished\":\"2025-04-04T16:12:35+00:00\",\"author\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"breadcrumb\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#primaryimage\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg\",\"contentUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg\",\"width\":450,\"height\":350},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pointblanknews.com\/pbn\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/\",\"name\":\"Pointblank News\",\"description\":\"Just the news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\",\"name\":\"Our Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"caption\":\"Our Reporter\"},\"url\":\"https:\/\/pointblanknews.com\/pbn\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025 - Pointblank News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/","og_locale":"en_US","og_type":"article","og_title":"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025 - Pointblank News","og_description":"Daniel Adaji Nigeria\u2019s foreign exchange (FX) reserves\u00a0experienced a decline of\u00a0$2.57bn in the first quarter of 2025, reflecting a 6.29\u00a0per cent\u00a0drop over the three-month period.\u00a0This is just as data published by…","og_url":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/","og_site_name":"Pointblank News","article_published_time":"2025-04-04T16:12:35+00:00","og_image":[{"width":450,"height":350,"url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg","type":"image\/jpeg"}],"author":"Our Reporter","twitter_misc":{"Written by":"Our Reporter","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#article","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/"},"author":{"name":"Our Reporter","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"headline":"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025","datePublished":"2025-04-04T16:12:35+00:00","mainEntityOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/"},"wordCount":474,"commentCount":0,"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg","articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/","url":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/","name":"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025 - Pointblank News","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#primaryimage"},"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg","datePublished":"2025-04-04T16:12:35+00:00","author":{"@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"breadcrumb":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#primaryimage","url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg","contentUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/03\/cbn-and-forex.jpg","width":450,"height":350},{"@type":"BreadcrumbList","@id":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spent-816m-on-debt-servicing-as-fx-reserves-dropped-by-2-57bn-in-q1-2025\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pointblanknews.com\/pbn\/"},{"@type":"ListItem","position":2,"name":"FG spent $816M on debt servicing as FX reserves dropped by $2.57bn in Q1 2025"}]},{"@type":"WebSite","@id":"https:\/\/pointblanknews.com\/pbn\/#website","url":"https:\/\/pointblanknews.com\/pbn\/","name":"Pointblank News","description":"Just the news","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c","name":"Our Reporter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","caption":"Our Reporter"},"url":"https:\/\/pointblanknews.com\/pbn\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/117091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/comments?post=117091"}],"version-history":[{"count":1,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/117091\/revisions"}],"predecessor-version":[{"id":117092,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/117091\/revisions\/117092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media\/117001"}],"wp:attachment":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media?parent=117091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/categories?post=117091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/tags?post=117091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}