Foreign reserves hit $49 billion.

CBN Governor Olayemi Cardoso announced a 4.93% increase and sharp climb from the $3 billion net reserves when he took office. Remittances drove much of the growth while premium between official and parallel exchange rates collapsed to under 2%. The reserves milestone gives you genuine economic breathing room after years of forex starvation that trapped investor funds and choked imports. But context matters: reserves peaked at $53.6 billion in 2008 and were $45.4 billion in December 2025, meaning $49 billion shows improvement without representing uncharted territory. CBN is now a net buyer of foreign exchange, actively purchasing dollars to stabilise reserves rather than just defending the naira. That's progress. Whether it holds depends on sustained oil production, non-oil export growth, whether foreign investors maintain confidence. For now, $49 billion provides buffer against external shocks—rare positive indicator in your macro story.