Reserves Rise $9bn In Eight Months, 96% More than 2025 Accretion

Nigeria’s external reserves have risen by $9.04 billion in the first eight months of 2026, representing a 96 per cent increase over the $4.62 billion accretion recorded in the whole of 2025. Latest data from the Central Bank of Nigeria (CBN) showed that the country’s gross external reserves rose from $45.57 billion on January 2, 2026, to $54.61 billion as of September 14.

The $9.04 billion increase recorded in just over eight months is almost twice the $4.62 billion added to the reserves throughout 2025, when the stock rose from $40.88 billion on January 2 to $45.50 billion by December 31.

The stronger accumulation in 2026 has also pushed Nigeria’s reserves to their highest level in about 18 years, surpassing the previous peak recorded in 2008. The latest position represents a 19.8 per cent increase in the country’s external buffers since the beginning of the year, compared with an 11.3 per cent increase recorded in 2025.

The rapid build up has seen reserves rise consistently in recent months, crossing the $50 billion mark in June, $52 billion in August and $54 billion in September.

Data from the CBN showed that reserves stood at $49.80 billion on June 1 before rising to $50.81 billion by June 15. The stock climbed further to $51.53 billion on July 3, $51.94 billion on August 3 and $52.83 billion by August 21.

By September 3, reserves had crossed the $54 billion threshold, reaching $54.08 billion, the highest level it has reached since December 22, 2008, before rising further to $54.61 billion on September 14.

The sustained accretion provides a stronger external buffer for the economy and gives the CBN greater capacity to manage foreign exchange pressures and meet the country’s external obligations.

The development also comes amid improved foreign exchange market conditions and stronger confidence in Nigerian assets, with foreign investors showing renewed interest in the domestic fixed income market.