Nigeria’s Foreign Reserves Rise by Over $1 Billion in Two Weeks

Nigeria’s external reserves increased by more than $1 billion in the first half of June 2026, extending the gains recorded in May and strengthening the country’s foreign exchange buffers.

Data from the Central Bank of Nigeria (CBN) showed that gross external reserves rose from $49.80 billion on June 1, 2026, to $50.81 billion as of June 15, 2026, representing an increase of approximately $1.01 billion within two weeks.

The latest build-up follows a strong performance in May, when Nairametrics reported that Nigeria’s reserves expanded by about $1.22 billion over the course of the month, reflecting sustained foreign exchange inflows and improved external liquidity.

CBN data shows that external reserves recorded a steady and consistent upward trend throughout the first half of June.

• The reserves began the month at $49.80 billion on June 1, rising gradually to $49.88 billion on June 2 and $49.96 billion on June 3. The upward momentum continued into June 4 and June 5, when the figures climbed to $50.04 billion and $50.12 billion, respectively, crossing the $50 billion mark.
• By June 8, reserves had increased further to $50.27 billion, followed by $50.35 billion on June 9 and $50.43 billion on June 10. The growth trajectory persisted on June 11, when reserves reached $50.51 billion, before advancing to $50.81 billion by June 15, marking the highest level within the period under review.
• The reserve position increased by about 2.0% during the first 15 days of June, marking one of the strongest short-term improvements recorded this year.

The latest balance also represents a significant improvement from the corresponding periods in April and May.