Nigeria’s foreign reserves saw a substantial increase in the first half of June 2026, rising by over $1 billion as ongoing strong foreign currency inflows helped to keep the nation’s external situation stable.
New data from the Central Bank of Nigeria reveal a two-week increase of almost $1.01 billion in gross foreign reserves from $49.80 billion on June 1 to $50.81 billion by June 15.
The News Chronicle reports that the constant increase keeps up the good trend observed in May when reserves rose by about $1.22 billion. Improved foreign exchange market liquidity, consistent inflows, and the results of ongoing currency changes help analysts to explain the increase.
The reserve level exceeded $50 billion during the first week of June and has been strengthening ever since, which is among the most remarkable short-term gains noted this year. Reserves have grown by almost $2.24 billion since mid-May, while over the last two months they have increased by over $2 billion.
Growing confidence in Nigeria’s foreign exchange market, the naira keeping relative stability in recent months, helps to drive development. Stronger reserves will help the nation to sustain the local currency, satisfy outside commitments, and draw more investor interest, economic observers argue.
Nigeria’s foreign reserves have increased by over $11 billion over the past year, thanks to recent changes in its economic and currency policies.
