Nigeria’s External Reserves Hit 17-Year High at $51.04 Billion

Nigeria’s external reserves have surged to $51.04 billion as of June 18, 2026, marking their highest level in 17 years and signaling renewed investor confidence and stronger foreign exchange inflows.

According to Central Bank of Nigeria (CBN) data, reserves rose from $49.80 billion at the start of June to $51.04 billion, surpassing the apex bank’s projection for the year. The milestone reflects the impact of foreign exchange reforms, improved liquidity, and steady inflows from oil and non-oil sectors.

Analysts say the stronger reserve position enhances the CBN’s ability to stabilize the naira, meet external obligations, and attract foreign investment. Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), noted that the growth “shows reforms are yielding results,” while urging diversification of reserve sources to ensure long-term resilience.

The achievement places President Bola Tinubu’s administration among the most successful in reserve growth, recording a $15.94 billion increase — the second-highest margin in Nigeria’s history.

Written by Boom RadioNG