Nigeria’s external reserves have climbed to $50.11 billion, their highest level in 17 years, underscoring a sharp improvement in the country’s foreign exchange position.
Latest data from the Central Bank of Nigeria (CBN) showed reserves rose to $50.11 billion on June 5, 2026, surpassing the $50 billion threshold first crossed on March 10 when reserves stood at $50.01 billion.
The latest figure is the strongest reserve position since January 26, 2009, when Nigeria’s external reserves reached $50.58 billion.
The surge marks a significant increase from the $38.28 billion recorded on June 5, 2025, representing a year-on-year growth of 30.9 percent. In absolute terms, Nigeria added approximately $11.84 billion to its reserve stock within 12 months, strengthening external buffers amid efforts to stabilise the foreign exchange market and reinforce macroeconomic fundamentals.
The reserve build-up gathered pace throughout the past year. From $38.28 billion in June 2025, reserves rose to $39.36 billion in July, climbed to $41.31 billion in August and reached $42.35 billion in September.
The upward trend continued in the final quarter of 2025, with reserves increasing to $43.20 billion in October, $44.67 billion in November and closing the year at $45.50 billion.
Momentum remained strong in 2026. Reserves rose to $46.28 billion at the end of January before surging to $49.69 billion by February 27.
Although reserves moderated slightly to $49.24 billion at the end of March and $48.36 billion by the end of April, they rebounded strongly in May and early June, crossing the $50 billion mark and reaching a 17-year high of $50.11 billion.
