Nigeria’s External Reserves Hit $50.81 Billion, Close to CBN 2026 Target
By Aboki Forex —
Nigeria’s external reserves have risen to $50.81 billion as of June 15, 2026. That is the highest level in about 17 years.
The Central Bank of Nigeria (CBN) is targeting $51.04 billion by the end of 2026. The latest figure puts the country very close to that goal.
The reserves increased by $12.99 billion or 34.35 percent from $37.82 billion recorded in June 2025. The CBN says this gives it a stronger buffer to support the foreign exchange market and defend the naira.
The 2026 target is higher than the $45.01 billion benchmark set for 2025. Officials expect higher oil revenues, foreign exchange reforms, and stronger diaspora remittances to support the build-up.
But the International Monetary Fund (IMF) has advised caution. The Fund says the pace of reserve accumulation may be slowing the naira’s adjustment toward its fair value.
In its latest assessment, the IMF noted that Nigeria’s Real Effective Exchange Rate (REER) appreciated by 32 percent in 2025. This happened even though the Nominal Effective Exchange Rate (NEER) fell by 5.2 percent. The IMF recommends a slower pace of reserve build-up to allow the naira to move closer to its estimated equilibrium.