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Nigeria’s Foreign Reserves Surge to Record $51.89 Billion

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Nigeria’s gross foreign reserves have reached a significant multi-year milestone, climbing to $51.89 billion as of Wednesday, July 15, 2026, according to the latest data from the Central Bank of Nigeria. This represents a steady upward trajectory throughout the first half of 2026, reflecting a robust recovery compared to the……

Nigeria’s gross foreign reserves have reached a significant multi-year milestone, climbing to $51.89 billion as of Wednesday, July 15, 2026, according to the latest data from the Central Bank of Nigeria.

This represents a steady upward trajectory throughout the first half of 2026, reflecting a robust recovery compared to the same period in previous years.

The reserves have shown consistent daily gains over the last month. On June 15, 2026, the gross reserves stood at $50.81 billion. Within just 30 days, the reserves increased by over $1 billion, reaching the current $51.89 billion mark. This growth has been supported by a high degree of liquidity; of the total gross amount, $51.27 billion is currently classified as liquid, with only 1.2% ($621.7 million) held in blocked funds.

The current figures mark a dramatic shift from the reserve levels recorded exactly one and two years ago. On July 15, 2025, gross reserves were significantly lower at $35.70 billion. Similarly, in mid-July 2024, reserves hovered around the $35.70 billion mark.

The jump from approximately $35.7 billion in mid-2025 to nearly $52 billion in mid-2026 indicates an increase of over 45% in a single year.

This performance also rivals the high-water marks of 2013. In mid-June 2013, Nigeria’s reserves sat at approximately $48.47 billion. While the 2013 levels were strong, the 2026 data shows that Nigeria has not only surpassed those figures.

The current data highlights a major departure from the economic strain seen a decade ago. Between 2016 and 2017, Nigeria’s foreign reserves plummeted, reaching a critical low of $23.89 billion in October 2016. The current $51.89 billion balance represents more than a doubling of the nation’s foreign currency cushions since those 2016 lows.

Meanwhile, the recently released CPI data by the National Bureau of Statistics (NBS) revealed that Nigerian headline inflation moderated to 15.91% YoY (vs 15.93% YoY in the prior month). This was primarily driven by deceleration in the core basket (from 16.82% to 15.92% in June). Similarly, MoM inflation tapered to 1.66% in June from 1.75% in May.

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