Nigeria's foreign reserves rise to $54.6bn, up $12.8bn YoY as of Sept 14
Nigeria's gross foreign exchange reserves climbed to $54.61 billion on September 14, 2026, up $12.76 billion from $41.84 billion a year earlier, a 30.5% increase. The reserves also gained about $707.75 million in the first half of September, rising from $53.90 billion on September 1 to $54.61 billion by the 14th.
The upward trend reflects stronger foreign capital inflows, with the country attracting $10.37 billion in Q1 2026—an 83.8% rise from Q1 2025. Portfolio investment led the surge, hitting $3.37 billion in January and making up 95.7% of total capital imports that month. The latest level exceeds the Central Bank of Nigeria’s 2026 projection of roughly $51.04 billion and marks the highest point since reserves crossed $50 billion in early June.
A healthier reserve position improves Nigeria’s external liquidity, giving the central bank more buffer to stabilize the naira and moderate inflation. It also supports the CBN’s tight monetary policy aimed at anchoring prices while sustaining macroeconomic stability.
Will the continued reserve buildup translate into a more stable exchange rate and lower inflation for households and businesses, or will external shocks limit its impact?