US dollar bills are shown, representing Nigeria’s efforts to support the foreign exchange market amid economic challenges.
Nigeria’s external reserves have surged past $47 billion for the first time since 2018, signaling a stronger external position and growing confidence in reforms led by the country’s central bank. Data show reserves climbed steadily from about $45.5 billion at the end of 2025, fueled by improved oil earnings, tighter foreign exchange management, rising investor inflows, and stronger remittances. The sustained buildup through early 2026 reflects better liquidity conditions and a more stable macro environment across Nigeria. Analysts say the momentum brings the CBN’s $51 billion reserve target for 2026 firmly within reach, strengthening the country’s ability to manage currency volatility and external obligations.
Nairametrics