Nigeria's External Reserves Revised to $55.08 Billion

As of October 9, 2026, Nigeria's gross external reserves stood at $55.08 billion, according to revised data from the Central Bank of Nigeria. This revision corrected an earlier report that inaccurately stated the reserves at approximately $58 billion, an 18-month high.

The Central Bank informed Nairametrics that the previous figure was incorrect. The revised data indicates that Nigeria's external reserves rose from approximately $53.90 billion on September 1 to $54.93 billion by September 30, marking an increase of $1.03 billion for that month.

The upward trend continued into October, with reserves reaching $54.95 billion on October 2 and ultimately $55.08 billion on October 9. Overall, the reserves increased by about $1.18 billion between September 1 and October 9, based on the corrected figures.

External reserves are crucial as they provide a buffer against external shocks and assist in meeting international payment obligations.