Nigeria’s change reserves have climbed to $48.5 billion, their highest stage since mid-Could 2013, signaling a sustained rebuilding of the nation’s exterior buffers.
In accordance with current checks by BusinessTimes on the Central Bank of Nigeria’s (CBN) database, the present reserve place represents the strongest steadiness since Could 14, 2013, when reserves stood at about $48.51 billion.
The milestone displays a gentle upward trajectory that started within the closing weeks of 2025 and has continued into early 2026, reinforcing expectations of improved macroeconomic stability.
The event comes amid bettering overseas change inflows and tighter liquidity administration by the Central Bank of Nigeria.
What the information is saying
Nigeria’s overseas change reserves ended 2025 at roughly $45.5 billion, up from about $40.8 billion at first of the yr. The year-on-year enhance of almost $4.7 billion displays stronger overseas change inflows, coverage reforms, and extra disciplined reserve administration.
- Reserves opened January 2026 at $45.565 billion and closed the month at $46.279 billion, marking a acquire of greater than $700 million inside 4 weeks.
- Throughout the first 22 days of January alone, reserve ranges rose by about $509 million, highlighting sustained inflows and strengthening overseas change liquidity situations.
- Reserves crossed the $46 billion mark in January for the primary time in about eight years and moved above $47 billion by February 11, additionally the primary time in roughly eight years.
By mid-February, reserves had prolonged additional to $48.5 billion, consolidating the upward momentum and marking the best stage in almost 13 years.
Stand up to hurry
The rebuilding part may be traced to late December 2025, when reserves elevated from roughly $44.8 billion to $45 billion, then thought-about a six-year excessive. That threshold signalled the beginning of a extra sustained accumulation cycle after years of volatility.
- Since December 19, 2025, the reserve curve has maintained a measured however constant upward slope.
- The regular rise adopted a interval of reforms geared toward bettering overseas change transparency and liquidity administration.
The broader context consists of years of stress on exterior reserves as a consequence of oil worth volatility, capital circulation reversals, and foreign money administration challenges, making the present restoration notably important.
The regular climb in reserves is strengthening Nigeria’s import cowl place and enhancing its skill to fulfill exterior obligations.
What you need to know
The apex bank has projected that reserves may attain $51 billion by the tip of 2026 as a part of its broader macroeconomic stabilization and confidence-restoration agenda. This goal underscores its dedication to reinforcing exterior buffers and sustaining overseas change reforms.
The $51 billion projection kinds a part of a medium-term technique to strengthen balance-of-payments resilience.
The technique is geared toward moderating foreign money volatility and bettering investor sentiment.
Sustaining inflows and disciplined reserve administration will probably be vital to assembly the goal.
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