Nigeria’s gross external reserves has climbed to $50.45 billion as of the 16th of February, 2026, marking the highest level it’s been in 13 years
Governor of the Central Bank of Nigeria, Olayemi Cardoso revealed this on Tuesday while addressing journalists at the end of the 304th Monetary Policy Committee (MPC) meeting held in Abuja.
He stated that the increase reflected stronger macroeconomic conditions and improved confidence in the country’s policy direction.
Providing further insight, the CBN governor attributed the rise to favourable trade dynamics, a surplus current account position, and growth in non-oil exports.
On the sustainability of the reserves, Cardoso cautioned that external and domestic risks remained, including global shocks, oil price volatility, and fiscal pressures.
The apex bank had earlier projected that reserves could rise to about $51.04 billion by the end of 2026.
This is the strongest balance since May 2013, when reserves stood at approximately $48.51 billion.
Edited by Favour Owonibi.