Nigeria’s foreign exchange reserves have continued their upward climb, crossing the $50 billion threshold and reaching $50.81 billion as of June 15, 2026, according to data released by the Central Bank of Nigeria (CBN).
The latest figure represents an increase of approximately $1.01 billion from the $49.80 billion recorded at the beginning of June, extending a positive trend that has strengthened the country’s external position in recent months. The development follows a strong performance in May, when reserves expanded by about $1.22 billion, reflecting sustained foreign exchange inflows and improving external liquidity.
The growth has been steady throughout the month. Reserves rose from $49.80 billion on June 1 to $49.88 billion on June 2 and $49.96 billion on June 3 before crossing the $50 billion mark during the first week of June. The upward movement continued with reserves reaching $50.04 billion on June 4, $50.12 billion on June 5, $50.27 billion on June 8, $50.35 billion on June 9, $50.43 billion on June 10, and $50.51 billion on June 11. By June 15, the balance had climbed further to $50.81 billion, the highest level recorded during the period under review.
Within the first 15 days of June alone, the reserve position increased by roughly 2 percent, making it one of the strongest short-term improvements recorded this year.
A broader look at the figures highlights the pace of the recent accumulation. Nigeria’s external reserves stood at $48.58 billion on May 15, 2026, meaning the country has added about $2.24 billion within a month. Compared with the $48.68 billion recorded on April 15, reserves have grown by approximately $2.06 billion over two months.
The current momentum represents a notable recovery from earlier movements in the year. In March 2026, reserves declined from above $50.08 billion on March 12 to $49.61 billion by March 23. However, subsequent months have seen a return to sustained growth. Earlier in January, reserves had already increased by about $509 million within the first 22 days of the year, pointing to improving foreign exchange inflows.
The strengthening reserve position has coincided with greater stability in the foreign exchange market. The naira closed May 2026 at N1,372/$ in the official market, compared with N1,585.50/$ in May 2025, reflecting a significant improvement over the past year.
Speaking on the reserve build-up in May, CBN Governor Olayemi Cardoso noted that the growing buffer continues to reinforce investor confidence in the Nigerian economy while supporting exchange-rate stability.
Over the last 12 months, Nigeria’s external reserves have increased by more than $11 billion, reflecting the impact of ongoing foreign exchange reforms by the Central Bank of Nigeria and broader efforts by the federal government to strengthen market efficiency, attract capital inflows, and improve macroeconomic stability.
As reserves continue to build and remain comfortably above the $50 billion mark, Nigeria is entering the second half of 2026 with stronger external buffers, improved liquidity, and growing confidence in the resilience of its economy.
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