Nigeria’s foreign currency reserves rose by way of roughly $115 million in six days to $55.07 billion as of October 8, 2026, extending the upward pattern recorded in September.
Knowledge from the Central Financial institution of Nigeria’s web page confirmed that reserves higher from $54.95 billion on October 2 to $55.07 billion on October 8, reflecting persisted enlargement within the nation’s exterior buffers originally of the month.
The newest building up follows a gentle upward push in reserves all through September, taking the steadiness above the CBN’s projected year-end stage of $51.04 billion for 2026.
Reserves upward push above $55 billion
Nigeria’s gross exterior reserves reached $55.07 billion on October 8, when compared with $54.95 billion on October 2, an building up of about $116 million over the length.
- The day-to-day figures display that reserves persisted to construct throughout the first week of October.
- Reserves stood at $54.95 billion on October 2 prior to emerging to $54.98 billion on October 5.
- The steadiness higher to $54.98 billion on October 6 and $55.05 billion on October 7.
- By way of October 8, reserves had climbed to roughly $55.07 billion.
The newest motion follows a equivalent upward pattern in past due September, when reserves higher from $54.86 billion on September 24 to $54.93 billion on September 30.
September beneficial properties lengthen into October
The rise in early October builds at the reserve accumulation recorded in September. The knowledge display that gross exterior reserves rose from roughly $53.90 billion on September 1 to $54.93 billion on the finish of the month.
Nairametrics earlier reported that Nigeria’s foreign currency reserves won $12.76 billion year-on-year to $54.61 billion as of September 14, 2026, reflecting the wider building up within the nation’s exterior liquidity.
- Reserves rose from $53.90 billion on September 1 to $54.41 billion on September 10.
- By way of September 18, the steadiness had reached roughly $54.72 billion.
- Reserves persisted mountaineering within the ultimate days of September, last the month at about $54.93 billion.
The upward motion persisted into October, with the steadiness crossing $55 billion all through the primary week of the month.
Reserves exceed CBN’s year-end projection
Nigeria’s reserves at the moment are above the Central Financial institution of Nigeria’s projected year-end stage of roughly $51.04 billion for 2026. The projection was reported by Nairametrics in December 2025.
One at a time, the International Financial institution raised its forecast for Nigeria’s economic growth to 4.3% in 2026, from 4.0% in 2025, and projected enlargement of four.4% in each 2027 and 2028, in keeping with an previous Nairametrics record.
The World Bank also said the naira was among Africa’s more resilient currencies in the second one quarter of 2026, with its most depreciation restricted to two.6% in spite of exchange-rate pressures around the continent.
The newest reserve figures display that Nigeria’s exterior buffers persisted to develop originally of October, following the beneficial properties recorded over the previous month.