Nigeria’s external reserves have grown by $7.09 billion since the beginning of 2026, reaching $52.66 billion as of August 19, according to latest figures from the Central Bank of Nigeria (CBN).
The growth represents a 15.6% expansion in less than eight months, up from $45.57 billion recorded on January 2, 2026.
What the data is saying
Data tracked from the apex bank shows a steady upward trajectory following a brief contraction earlier in the second quarter:
•Reserves dipped by $855 million between April 1 and May 7, falling from $49.18 billion to a period low of $48.33 billion.
•Since hitting that low in May, the reserves have rebounded strongly, gaining $4.33 billion over the past three months.
•The balance crossed the $50 billion mark in early June, reached $51.06 billion by June 19, and broke past $52 billion in July.
•From $51.94 billion on August 3, the reserve balance added approximately $715 million in under three weeks to close at $52.66 billion on August 19.
The buildup in external reserves has coincided with improved foreign exchange liquidity and a stronger naira in recent months.
The naira traded around N1,346.90/$ at the Nigerian Foreign Exchange Market (NFEM) as of August 21, according to recent market data.
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