Nigeria’s FX reserves hit $53.11bn, highest level in 17 years
Currencies
Nigeria’s foreign exchange reserves rose to $53.11 billion as of August 24, 2026, according to Central Bank of Nigeria data, reaching their highest level since January 2009 and surpassing the $53 billion mark for the first time in more than 17 years.
The reserve position represents an increase of more than $7.5 billion since the start of 2026, supported by improved crude oil receipts, stronger capital inflows and remittances, alongside relative stability in the naira.
President Bola Tinubu’s Special Assistant on Social Media, Dada Olusegun, described the development as evidence of the administration’s economic reforms, which he referred to as “Tinubunomics.”
“Nigeria’s foreign exchange reserves have crossed $53 Billion for the first time in over 17 years, hitting $53.11 billion,” Olusegun said in a post.
He added, “This 18-year high is a massive win for ‘Tinubunomics’ and a testament to the visionary leadership of President Bola Ahmed Tinubu’s administration.”
The increase in external reserves could strengthen the CBN’s capacity to support the foreign-exchange market, meet external obligations and cushion the economy against volatility in global financial markets.
