Nigeria’s gross external reserves have surged to about $50 billion, marking the highest level seen since January 2009, according to data from the Central Bank of Nigeria.
The reserves, currently at $49.9 billion, reflect an increase of $4.441 billion from the $45.502 billion recorded at the end of 2025. The CBN Governor, Yemi Cardoso, confirmed that the nation’s gross external reserves reached $50.45 billion as of February 16, 2026.
Analysts attributed the surge to effective foreign exchange reforms, rising oil earnings, higher remittances, and sharp reductions in oil import payments.
Financial experts said the growing reserves provide critical support for the naira, enhance the country’s import cover, and strengthen confidence in the foreign exchange market.
“This remarkable growth reflects stronger inflows into the economy and improved management of external accounts, reinforcing Nigeria’s macroeconomic stability,” analysts noted.
The surge is expected to bolster investor confidence and support the Central Bank’s efforts to stabilise the naira amid rising global economic uncertainties.
SOURCE: dailytimesng.com
