Foreign reserves gain $12.76 billion in one year

Nigeria’s gross foreign exchange reserves rose by $12.76 billion year-on-year to $54.61 billion as of September 14, 2026, strengthening the country’s external liquidity position and extending the recent upward trend.

The reserves increased from $41.84 billion on September 15, 2025, to $54.61 billion a year later, representing a 30.5% increase.

The reserves have also gained momentum in September, rising by about $707.75 million between September 1 and September 14, from $53.90 billion to $54.61 billion.

The latest movement represents a continuation of the steady accumulation recorded since mid-year.

Reserves stood at $49.80 billion on June 1 and crossed the $50 billion mark on June 4. By July 3, the balance had risen to $51.53 billion before climbing above $52 billion in August.

The pace accelerated further in September, with reserves increasing from $53.90 billion at the start of the month to $54.08 billion on September 3 and $54.61 billion by September 14.

This means the stock of foreign reserves added about $2.28 billion between August 14 and September 14 when it stood at $52.32 billion.

Nigeria’s reserves have recorded a notable recovery from the levels seen a year earlier.

On September 1, 2025, gross reserves stood at $41.42 billion. By September 15, 2025, they had risen to $41.84 billion.

One year later, the balance was $54.61 billion, putting the year-on-year gain at $12.76 billion.

The latest balance is also significantly above the $50.03 billion recorded in March and represents a sustained improvement in Nigeria’s external reserve position through the year.

The improvement in reserves comes alongside stronger foreign capital inflows into the Nigerian economy.

Nigeria attracted $10.37 billion in foreign capital in the first quarter of 2026, an 83.8% increase from the $5.64 billion recorded in Q1 2025, according to data from the National Bureau of Statistics (NBS).

Portfolio-related inflows also recorded a sharp increase in January. Foreign portfolio investment reached $3.37 billion during the month and accounted for 95.72% of total capital importation.

Experts warned that portfolio investments can strengthen reserves and improve foreign exchange liquidity but they are generally more sensitive to interest rates, exchange-rate expectations and global investor sentiment than longer-term foreign direct investment.