Nigeria’s foreign exchange reserves recorded a significant increase in the first eight months of 2026, rising by about $9 billion compared with the corresponding period in 2025.

The growth represents a substantial improvement in the country’s external reserves position, reflecting stronger foreign exchange inflows during the period.

Data on the reserves showed that the increase was considerably higher than the accretion recorded during the same period of the previous year.

The development provides additional support for the country’s external position and could strengthen the Central Bank of Nigeria’s capacity to manage foreign exchange liquidity.

The rise in reserves also comes amid ongoing efforts to improve foreign exchange market stability, attract capital inflows and strengthen confidence in Nigeria’s economy.

Higher reserves can provide a buffer against external shocks and help support the country’s ability to meet international payment obligations.

The latest improvement therefore represents a notable development in Nigeria’s external sector as authorities continue efforts to increase foreign exchange earnings and maintain reserve accumulation.