Nigeria’s external reserves have increased by $7.09 billion since the beginning of 2026, reaching $52.66 billion as of August 19, according to the latest figures from the Central Bank of Nigeria (CBN).
The increase represents a 15.6 per cent rise from the $45.57 billion recorded on January 2, 2026, highlighting a significant improvement in the country’s reserve position within less than eight months.
What the Figures Show
Data from the apex bank indicates that the reserves have maintained a generally upward trend despite a temporary decline recorded earlier in the second quarter of the year.
Between April 1 and May 7, the country’s external reserves fell by about $855 million, dropping from $49.18 billion to a low of $48.33 billion.
The decline was followed by a strong recovery. Since reaching the May low, the reserves have increased by approximately $4.33 billion over the following three months.
Nigeria’s reserves crossed the $50 billion threshold in early June and rose to $51.06 billion by June 19. The balance subsequently moved above $52 billion in July, reflecting continued accumulation.
By August 3, reserves stood at $51.94 billion. They then gained approximately $715 million over the next three weeks to reach $52.66 billion on August 19.
The sustained buildup has occurred alongside improved foreign exchange liquidity and a relatively stronger naira in recent months.
Recent market data showed the naira trading at about ₦1,346.90 to the dollar at the Nigerian Foreign Exchange Market (NFEM) as of August 21.
The increase in external reserves provides Nigeria with a stronger foreign exchange buffer and could help improve confidence in the country’s ability to meet external obligations while supporting stability in the foreign exchange market.
The latest figures therefore point to a notable improvement in Nigeria’s external position in 2026, with reserves continuing to build after the temporary decline recorded earlier in the year.
