Nigeria’s External Reserves Hit $54bn, Highest in 18 Years

Nigeria’s external reserves have climbed to $54.08 billion, their highest level in nearly 18 years, according to the latest data from the Central Bank of Nigeria (CBN).

The reserves stood at $54,083,850,797.49 as of September 3, 2026, marking another increase from the $53.99 billion recorded on September 2 and $53.90 billion on September 1.

The latest figures indicate that Nigeria’s reserves have gained about $8.51 billion since the beginning of the year, rising from approximately $45.57 billion to $54.08 billion.

The current reserve position is also closing in on the $54.21 billion recorded in December 2008, when Nigeria’s external reserves reached one of their highest levels during the previous oil boom.

The sustained increase in reserves represents a significant improvement in Nigeria’s foreign exchange buffer and provides the country with greater capacity to meet its external obligations and support confidence in the economy.

The latest rise comes amid ongoing economic reforms and efforts to improve foreign exchange liquidity and strengthen Nigeria’s external position.

With reserves now only about $130 million below the December 2008 level, the country is approaching a benchmark not seen since the global financial crisis era.

The development is expected to attract further attention from investors and economic analysts as Nigeria seeks to consolidate gains in its external sector and strengthen macroeconomic stability.