Nigeria’s external reserves have climbed to $50.12 billion as of June 5, 2026, reaching their strongest level in more than 17 years and signaling a significant improvement in the country’s external financial position.
Latest data showed the reserves rose from $38.28 billion in June 2025 to $50.12 billion a year later, representing an increase of about $11.84 billion or 30.9 per cent year-on-year.
The current level marked the first time Nigeria’s reserves have crossed the $50 billion mark since January 2009, when they stood at $50.58 billion.
It also remained well below the all-time peak of $64.85 billion recorded in August 2008, but represents the strongest position since the global financial crisis era.
Over the past 12 months, reserves moved in a steady upward trend, rising from $37.18 billion in July 2025 to a peak of $50.12 billion in June 2026, with brief dips in early 2026 before rebounding strongly.
The reserve buildup is seen as a major boost to Nigeria’s foreign exchange buffers, strengthening confidence in the country’s external sector after years of volatility.
Market data also showed sustained investor activity in fixed income instruments, with Open Market Operation (OMO) bills attracting the highest trading volumes.
On Monday, total fixed income turnover stood at N882.35 billion, with OMO bills accounting for N655.88 billion across 127 trades.
Demand was strongest for short-term OMO instruments, especially the July 28, 2026 bill, which recorded over N202 billion in trades, followed by the June 23, 2026 bill with N100 billion.
Yields in the OMO segment remained high, ranging between 18.53 per cent and 21.68 per cent, making them more attractive than Treasury bills and bonds.
Treasury bills and FGN bonds also recorded strong activity, but investors continued to prefer shorter-tenor securities offering higher returns, reflecting a cautious but yield-driven market sentiment.
Overall, analysts said the trend shows continued investor appetite for high-yield government securities, even as Nigeria’s external position strengthens significantly.
