Nigeria's External Reserves Rise to $52.66 Billion

As of August 19, 2026, Nigeria's external reserves surged by $7.09 billion, reaching a total of $52.66 billion, according to the Central Bank of Nigeria (CBN). This growth represents a 15.6% increase from $45.57 billion recorded on January 2, 2026.

The reserves have shown a steady upward trend following a brief contraction earlier in the second quarter, with a notable increase of approximately $715 million from $51.94 billion on August 3. The rise in reserves is linked to improved foreign exchange liquidity and a stronger naira, which traded at around N1,346.90/$ as of August 21.

Analysts, including Dr. Jerry Igwilo, CEO of Nisela Capital Limited, and Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, attribute this accumulation to stronger foreign exchange inflows from oil exports and increased investor confidence. The CBN's ongoing efforts to enhance the foreign exchange market's transparency and liquidity have also contributed to this positive trend.