Nigeria’s External Reserves Rise to $50.12 billion

Nigeria has recorded the highest level in external reserves in more than 17 years. The reserves increased to $50.12 billion and highlighting a significant improvement in the country’s external position over the past year.

Latest data showed that gross external reserves stood at $50.12 billion as of June 5, 2026, compared with $38.28 billion recorded on June 5, 2025, representing a year-on-year increase of 30.9 per cent.

The latest figure represents an addition of approximately $11.84 billion to the nation’s reserve stock within 12 months and marks the first time reserves have crossed the $50 billion threshold since January 26, 2009, when they stood at $50.58 billion.

The development places Nigeria’s reserves at their strongest level in over 17 years, reflecting a remarkable recovery from the levels recorded in recent years and strengthening the country’s foreign currency buffers.

Historical data show that although reserves remain below the all-time high of $64.85 billion recorded on August 8, 2008, the latest position is the strongest since the aftermath of the global financial crisis. At the current level, reserves are approximately $14.73 billion below that record peak but substantially higher than levels recorded over much of the past decade.

The reserve build-up has been particularly pronounced over the past year. From $38.28 billion on June 5, 2025, reserves climbed steadily to reach $50.12 billion by June 5, 2026, reflecting one of the strongest annual increases in recent years.

Over the past 12 months, Nigeria’s external reserves have followed a largely upward trajectory, rising from $37.21 billion on June 30, 2025 to $50.12 billion on June 5, 2026.

Reserves closed July 2025 at $39.36 billion, increased to $41.31 billion in August, and rose further to $42.35 billion by September.

The upward trend continued through the final quarter of 2025, reaching $43.20 billion in October, $44.67 billion in November and $45.50 billion by December 31, 2025.

The build-up accelerated in 2026, with reserves climbing to $46.28 billion at the end of January and surging to $49.69 billion by February 27.

Although reserves eased slightly to $49.24 billion at the end of March and $48.36 billion at the end of April, the decline proved temporary as holdings rebounded to $49.58 billion by May 29 before reaching a new multi-year high of $50.12 billion on June 5, 2026.

Within the 12-month period under review, the lowest reserves level was $37.18 billion on July 3, 2025, while the highest was the current $50.12 billion, representing an increase of about $12.94 billion between the low and high points.

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