Nigeria’s external reserves surge $7.09 billion YTD to hit $52.66 billion
Nigeria’s external reserves have grown by $7.09 billion since the beginning of 2026, reaching $52.66 billion as of August 19, according to latest figures from the Central Bank of Nigeria (CBN). The post Nigeria’s external reserves surge $7.09 billion YTD to hit $52.66 billion appeared first on Nairametrics .
Nigeria's external reserves have surged by $7.09 billion year-to-date, reaching $52.66 billion as of August 19, according to the Central Bank of Nigeria (CBN). This represents a 15.6% increase in less than eight months, from $45.57 billion at the start of the year. The accumulation of reserves has been attributed to stronger foreign exchange inflows, including oil export earnings and investment inflows, and improved investor confidence.
Analysts note that the continued buildup has been driven by higher crude oil prices, which have supported Nigeria's dollar earnings. The strengthened external reserves provide a larger cushion against external shocks and support Nigeria's capacity to meet international obligations.
Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
