Nigeria’s external reserves rise to $54.08 billion, the highest level in nearly 18 years, according to recent Central Bank of Nigeria (CBN) data. The figure reaches the mark on September 3, following a series of increases in late August and early September.
The outlets report the same broad trajectory: reserves climb from about $52.66 billion recorded on August 19 to $54.08 billion by September 3. Vanguard and Nigerian Eye cite that the last time reserves were around this level was in late December 2008, while Nigerian Eye notes the move is also above the CBN’s 2026 forecast of $51.04 billion. They also describe the period’s steady step-by-step gains across several dates.
On context, Nigerian Eye attributes the rise to stronger foreign-exchange inflows, including crude-oil-related tax receipts and third-party inflows. Legit.ng and Nigerian Eye connect the reserve increase with FX-market effects, including a strengthening naira rate, though they emphasize it with different framing. Across reports, all figures refer back to the same CBN reserve update.
