Nigeria External Reserves Rise by $1.01bn in Two Weeks, Cross $50bn as Investor Confidence Strengthens

Nigeria’s external reserves have continued their upward momentum, rising by more than $1.01 billion in just two weeks of June 2026. The increase has pushed the country’s gross reserves to $50.81 billion, reinforcing confidence in Nigeria’s foreign exchange stability and overall economic outlook.

According to fresh data from the Central Bank of Nigeria (CBN), reserves grew from $49.80 billion on June 1 to $50.81 billion by June 15, marking a steady and consistent climb driven by sustained inflows into the economy. The movement also reflects Nigeria’s strengthening external position amid ongoing FX reforms.

The growth trend was not sudden but gradual, with reserves rising almost daily through the first half of the month. From $49.88 billion on June 2, to $50.04 billion by June 4, Nigeria officially crossed the $50 billion threshold early in the month and continued to build on that momentum, reaching a mid-June peak of $50.81 billion.

The latest performance builds on an already strong May 2026, when reserves increased by about $1.22 billion. Analysts say the sustained rise signals improving foreign exchange liquidity and stronger investor confidence, with the naira also showing relative stability in recent months compared to the previous year.

Over a longer horizon, Nigeria’s reserves have gained more than $11 billion in the past year, supported by policy reforms under the Central Bank and improved FX inflows. With the naira closing May 2026 at N1,372/$ compared to N1,585.50/$ in the same period last year, the steady reserve buildup is being seen as a key anchor for exchange rate stability going forward.

source: nairametrics