Nigeria’s Foreign reserve Soars to $51.04 billion, highest in 17 years
Nigeria’s external reserves rose to $51.04 billion on June 18, 2026, marking their highest level in about 17 years.
The development is sequel to stronger foreign exchange inflows and improved market conditions which continued to support the country’s reserve position.
Current data from the Central Bank of Nigeria (CBN) data indicates that gross external reserves stood at $51,035,544,733.65, the highest level since January 20, 2009, when reserves reached about $51.07 billion.
The latest achievement reinforces the steady recovery in Nigeria’s external buffers, with reserves gaining momentum throughout June after recording significant growth in May.
The reserves commenced June at $49.80 billion and crossed the $50 billion mark by June 5, reaching $50.12 billion.
As at June 15, reserves had risen further to $50.81 billion before crossing to $51.04 billion three days later.
The sustained increase reflects stronger foreign exchange inflows and improved liquidity conditions in the country’s external sector.
The Country’s Reserves had increased by about 2.5% between June 1 and June 18, rising from $49.80 billion to $51.04 billion.
The improvement follows an increase of approximately $1.22 billion recorded during the month of May 2026.
The strengthening reserve position comes amid ongoing foreign exchange market reforms and improved external inflows into the economy.
The apex has in May, said: “This strong buffer continues to reinforce investor confidence in the Nigerian economy and support exchange rate stability.”
