Nigeria's External Reserves Hit $54.08 Billion in 2026

As of September 3, 2026, Nigeria's external reserves reached $54.08 billion, a substantial increase from $41.50 billion recorded on the same date in 2025, representing a year-on-year growth of $12.58 billion or 30.3%. Data from the Central Bank of Nigeria indicates that reserves have strengthened significantly over the past year, adding more than $12.5 billion since September 2025.

Additionally, reserves increased from $45.61 billion on January 5, 2026, marking an increase of approximately $8.48 billion or 18.6% within eight months. This level of reserves has not been seen since December 22, 2008, when they stood at $54.21 billion.

CBN Governor Olayemi Cardoso stated that Nigeria is nearing its target of attracting $1 billion in monthly remittance inflows, with July 2026 seeing a record $947 million through International Money Transfer Operators, contributing to a total of $3.8 billion in the first seven months of 2026, a 50.2% increase from the previous year.