Nigeria’s external reserves hits $54 billion for the first time in 18 years
Nigeria’s external reserves hits $54 billion for the first time in 18 years
Nigeria’s external reserves has hit $54 billion mark for the first time since December 2008, reaching $54.08 billion as of September 3, 2026.
The development was gathered from the latest data issued by the Central Bank of Nigeria (CBN). NigerianArmy Reports
According to a report by Nairametrics, CBN data shows that the reserves stood at $54,083,850,797.49 on September 3, compared with $53.99 billion on September 2 and $53.90 billion on September 1.
The development shows that Nigeria’s external reserves have gained about $8.51 billion since the beginning of the year, rising from approximately $45.57 billion to $54.08 billion.
According to report, the current figure is also approaching the December 2008 level of about $54.21 billion, when Nigeria recorded one of its highest reserve positions during the previous oil boom. NigerianArmy Reports
The released CBN data indicates that the accumulation of reserves has accelerated significantly since the beginning of August.
Reserves stood at $51.94 billion on August 3 before rising to $52.06 billion on August 7 and $52.32 billion on August 14. The position increased further to $52.83 billion on August 21 and $53.51 billion on August 28.
It was further gathered that by August 31, the country’s reserves had reached $53.81 billion before crossing $54 billion three days later.
The latest movement represents an increase of about $2.14 billion in August and early September, highlighting the pace at which Nigeria’s external buffers have strengthened in recent weeks.
