LAGOS, Feb 11 – Nigeria’s external reserves have crossed the $47 billion mark for the first time in nearly eight years, reflecting a strengthening external position and renewed investor confidence in the country’s macroeconomic direction.
Latest data show gross reserves rising to $47.025 billion, the highest level recorded since early August 2018, when reserves stood at just over $47.01 billion. The milestone reflects sustained accumulation in recent months as foreign inflows improve and exchange rate reforms begin to stabilize the market.
The upward momentum began in the closing weeks of 2025 and has carried into early 2026, fueling expectations that the Central Bank of Nigeria will meet or exceed its reserve targets for the year.
Nigeria ended 2025 with reserves of approximately $45.5 billion, compared with about $40.8 billion at the start of the year. The nearly $4.7 billion increase over twelve months points to stronger foreign exchange earnings, improved portfolio inflows, and tighter currency management.
The recovery in reserves also provides a stronger buffer against external shocks at a time when emerging markets face tighter global liquidity conditions and elevated debt servicing costs.
For policymakers, the build up offers added flexibility in managing exchange rate volatility while supporting broader economic stabilization efforts.
