Foreign Reserves Jump to $48.37bn, Gain $2.47bn in 1 Month

Nigeria’s external buffers strengthened further in February 2026 as foreign exchange reserves climbed sharply to $48.37 billion, highlighting sustained inflows and improved liquidity conditions in the economy.
Latest data from the Central Bank of Nigeria (CBN) show that gross external reserves rose from $45.90 billion recorded on January 13, 2026 to $48.37 billion as of February 16, 2026.
This represents a $2.47 billion increase within one month, translating to a 5.4 per cent rise over the period.
The accretion extends a recovery cycle that began in the second half of 2025, when the country’s reserves rebounded strongly from around $38 billion levels.
After dipping to $37.21 billion in June 2025, reserves rose to $39.36 billion in July and climbed further to $41.31 billion in August.
The upward trajectory was sustained through the rest of the year, reaching $42.35 billion in September, $43.20 billion in October and $44.67 billion in November.
By the end of December 2025, reserves stood at $45.50 billion, before advancing to $46.28 billion in January 2026 and surging further in February.
On a year on year basis, the reserve stock has recorded significant growth. From about $40.88 billion at the end of December 2024, reserves have risen to approximately $48.37 billion, reflecting an increase of nearly $7.49 billion or about 18.3 per cent over the period.
At over $48 billion, the reserve position provides stronger import cover and enhances the country’s capacity to defend the naira amid global financial volatility and commodity price swings.
It also signals improved external resilience as policymakers continue efforts to stabilise the foreign exchange market and anchor macroeconomic stability.