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Nigeria’s gross external reserves climbed to $50.45 billion as of 16 February 2026, marking the highest level in 13 years, according to the Governor of the Central Bank of Nigeria, Olayemi Cardoso.
Cardoso disclosed this on Tuesday while addressing journalists at the end of the 304th Monetary Policy Committee (MPC) meeting held in Abuja.
He said the increase reflects stronger macroeconomic conditions and improved confidence in the country’s policy direction.
“Gross external reserves rose significantly to 50.45 billion dollars as of February 16, 2026, the highest in 13 years. This provides an import cover of 9.68 months for goods and services,” Cardoso stated.
