Nigeria’s foreign exchange reserves climbed to $55.25 billion in September 2026, up from $53.81 billion recorded at the end of August.
The latest figures, released by the Central Bank of Nigeria (CBN), highlight a continued upward trajectory in the nation’s financial buffers.
According to the report, the current level of reserves marked the highest in the last 18 years.
It can sustain 11.3-months of imports, exceeding the international benchmark of 3 months of imports.
The foreign reserves have been rising steadily in the last three years due to increasing inflow of foreign exchange.
The Dangote Refinery has also contributed to this steady growth as it has helped preserve foreign exchange hitherto used to import petroleum products