Reserves Rise by $5.47bn to $51bn

Having crossed the $50 billion mark recently, Nigeria’s external reserves has breached the $51 billion mark with the 30-day moving average rising to $51.035 billion as at June 18, 2026, bringing its year to date accretion to $5.47 billion.

This level is the highest the reserves had reached since January 20, 2009 when it stood at $51.073 billion, as improved foreign exchange inflows and market conditions continued to support the country’s reserve position.

In the first 18 days of the month of June alone, the reserves had accrued $1.235 billion rising from $49.800 billion on June 1 to $51.035 billion on June 18. The June accretion is an extension of the gains recorded last month when reserves rose by about $1.249 billion between May 4 and May 29, increasing from $48.341 billion to $49.590 billion.

A look at the CBN figures showed that reserves maintained a consistent upward trajectory throughout the first half of June, crossing the $50 billion mark during the first week of the month and continuing to strengthen thereafter.

The reserves rose from $49.80 billion on June 1 to $49.88 billion on June 2 and $49.96 billion on June 3. The upward momentum continued as reserves climbed to $50.04 billion on June 4 and $50.12 billion on June 5, surpassing the $50 billion threshold for the first time in more than 17 years.

The reserve position advanced further to $50.27 billion on June 8, $50.35 billion on June 9 and $50.43 billion on June 10 before rising to $50.51 billion on June 11 and reaching $50.81 billion on June 15, before breaching the new mark on Wednesday June18 at $51.035 billion, the highest level recorded during the period under review.