Nigeria’s External Reserves Surge to $54 Billion, Marking Highest Level in 18 Years

Nigeria has crossed a major economic milestone as the country’s external reserves reached $54 billion, marking the highest volume recorded in nearly two decades.

Financial regulators and market analysts attribute the sharp upswing to sustained inflows from non-oil exports, steady diaspora remittances, and targeted monetary tightening measures implemented by the Central Bank of Nigeria (CBN). The bolster in foreign reserves is expected to provide substantial buffer capacity for the naira, enhance foreign exchange liquidity, and improve overall investor confidence across domestic and international markets.

Economic experts note that maintaining this trajectory will require continued diversification of foreign earnings and structural adjustments to cushion the domestic manufacturing sector against external shocks.