Nigeria’s gross foreign exchange reserves have climbed by $12.76 billion in one year, reaching $54.61 billion as of September 14, 2026, as the country’s external liquidity position continues to strengthen. Data from the Central Bank of Nigeria (CBN), as reported by Nairametrics, showed that reserves rose 30.5% from $41.84 billion recorded on September 15, 2025.
The upward movement has continued into September, with Nigeria’s foreign reserves gaining about $707.75 million in the first 14 days of the month. Reserves increased from $53.90 billion on September 1 to $54.08 billion on September 3 before reaching $54.61 billion on September 14. The latest figure also represents a gain of about $2.28 billion from the $52.32 billion recorded on August 14.
The reserve build-up has gathered pace since the middle of the year. Nigeria’s reserves stood at $49.80 billion on June 1, crossed the $50 billion mark on June 4 and reached $51.53 billion by July 3. The balance subsequently moved above $52 billion in August before hitting the latest September level. The $54.61 billion position is also above the CBN’s projected reserve level of approximately $51.04 billion for the full year 2026.
The increase in reserves comes alongside stronger foreign capital inflows. Nigeria attracted $10.37 billion in foreign capital in the first quarter of 2026, representing an 83.8% increase from $5.64 billion in Q1 2025, according to National Bureau of Statistics data cited in the report. Foreign portfolio investment also reached $3.37 billion in January, accounting for 95.72% of total capital importation during the month.
The stronger Nigeria foreign reserves position provides a larger external liquidity buffer as the CBN continues efforts to improve foreign-exchange market stability and manage external pressures. However, the composition of capital inflows remains important, as portfolio investments can be more sensitive to interest rates, exchange-rate expectations and global investor sentiment than longer-term foreign direct investment.
source: nairametrics