Foreign reserves gain $12.76 billion in one year, add $708 million in September

Nigeria's foreign exchange reserves grew by a significant $12.76 billion in the past year, reaching a total of $54.61 billion as of September 14, 2026. This substantial increase, equivalent to a 30.5% rise from $41.84 billion in September 2025, bolsters the country's external liquidity position and underscores a steady upward trend.

The reserves experienced an additional gain of approximately $707.75 million in September alone, pushing the balance from $53.90 billion to $54.61 billion. This recent surge continues a pattern of accumulation observed since mid-year. The overall reserve level of $54.61 billion is notably higher than the $50.03 billion recorded in March, indicating a sustained improvement in Nigeria's external reserve position throughout the year.

The growth in reserves is also attributed to robust foreign capital inflows into the Nigerian economy. Experts caution that while portfolio investments can bolster reserves and enhance foreign exchange liquidity, they are more susceptible to fluctuations in interest rates, exchange-rate expectations, and global investor sentiment compared to longer-term foreign direct investment.

The latest increase in external reserves occurs as the Central Bank of Nigeria (CBN) adheres to a tight monetary policy aimed at curbing inflation and promoting macroeconomic stability.