Nigeria’s external reserves have climbed to $53.11 billion, reaching their highest level in more than 17 years and bringing the country close to the reserve peak recorded in 2009.

Data from the Central Bank of Nigeria (CBN) showed that the reserves stood at $53.112 billion as of August 24, 2026.

The latest figure is the highest recorded since January 12, 2009, when Nigeria’s external reserves reached $53.25 billion.

The current position leaves the country’s reserves just $142 million below the January 2009 level, indicating a significant improvement in Nigeria’s external liquidity position.

The buildup in reserves has accelerated since June, with CBN data showing that reserves increased from $49.96 billion on June 3 to $53.11 billion on August 24.

This represents an increase of about $3.15 billion in less than three months, strengthening the country’s external buffer and providing greater capacity to support foreign exchange market stability.