CBN reports H1 2026 economic gains: inflation easing, reserves at $52.7B
CBN Governor Olayemi Cardoso reported to the Senate Banking Committee that Nigeria's macroeconomic gains from 2025 strengthened in H1 2026 despite external shocks. Headline inflation rose from 15.06% in February to 15.93% in May before easing to 15.91% in June, showing moderation after Middle East conflict pressures.
External reserves grew to $52.73 billion by July 9, 2026. Forex reforms stabilized the naira at an average N1,375.40/$ and boosted official diaspora remittances from $200M to over $600M monthly, with a target of $1B by year-end.
Banking sector recapitalization concluded with N4.65 trillion raised (72.55% local, 27.45% foreign), as 33 banks met new capital requirements. The CBN now focuses on ensuring stronger capital translates to better lending for productive sectors.
Senate Committee Chair Adetokunbo Abiru (APC-Lagos East) commended the progress while noting remaining challenges with non-compliant banks and cybersecurity risks.
With inflation still near 16%, should you adjust your household budget for continued price pressures, or does the naira's stability at N1,375/$ signal relief for import-dependent businesses and households?