The Central Bank of Nigeria CBN said the steady growth in the country's foreign reserves to over $52.5 billion reflects the positive impact of ongoing economic reforms aimed at restoring stability and strengthening investor confidence.

Nigeria's external reserves reached a 17-year high of $52.5 billion as of July 17, 2026, surpassing the apex bank's annual target and marking the country's strongest reserve position in nearly two decades.

CBN Governor, Olayemi Cardoso, attributed the increase to improved foreign exchange inflows, renewed investor confidence and sustained capital participation across various sectors of the economy. Cardoso, who spoke at the CBN Fair held at the International Conference Centre in Gombe, said the development showed that recent monetary and economic reforms are beginning to yield measurable results.

Represented by the Acting Director of Corporate Communications and Investor Relations Department, Hakama Sidi Ali, the governor said the growth in reserves reflected increasing confidence in Nigeria's economic management and monetary policy direction. He explained that the improvement in external reserves had been supported by stronger foreign exchange inflows and increased investor participation in Nigeria's financial markets. He reaffirmed the bank's commitment to maintaining monetary and price stability while implementing policies that encourage investment, deepen financial markets and promote sustainable economic growth.

— TVC