<< Back             Poser >> Nigeria’s reserves hit $54bn, highest in 18 years Business Nigeria’s external reserves have risen to $54.08 billion, reaching their highest level in nearly 18 years and moving further above the Central Bank of Nigeria’s (CBN) projection for the end of 2026. Latest CBN data showed that the reserves reached $54.08 billion on September 3, compared with $53.99 billion on September 2 and $53.90 billion on September 1. The latest figure is the highest level recorded since December 22, 2008, when the country’s reserves stood at about $54.21 billion. The reserves have increased by approximately $1.42 billion from the $52.66 billion recorded on August 19. Year-to-date, the reserves have risen by about $8.52 billion, from $45.56 billion on January 2, representing an increase of 18.7 per cent in just over eight months. The latest surge followed a steady build-up in August, with reserves crossing the $53 billion mark on August 24 at $53.11 billion. They subsequently rose to $53.30 billion on August 26, $53.51 billion on August 28 and $53.81 billion on August 31. The reserves stood at $53.90 billion on September 1 before climbing above the $54 billion mark two days later. The latest position is also $3.04 billion above the CBN’s forecast of $51.04 billion for external reserves by the end of 2026. CBN Governor Olayemi Cardoso had attributed the sustained increase to stronger foreign exchange inflows, including receipts from crude oil-related taxes and third-party inflows. The growth in reserves has also coincided with a strengthening of the naira in the foreign exchange market. The naira appreciated to N1,315 per dollar at the official market on Thursday, its strongest level in two years, according to the figures cited in the report. The rise in external reserves provides greater foreign exchange buffers for the economy and strengthens the CBN’s capacity to support stability in the foreign exchange market. Vanguard	Naira depreciates to N1,362/$ in parallel market The Naira yesterday depreciated to N1,362 per dollar from N1,357 in the parallel market on Monday. West Africa must modernise agriculture for food security – Experts Experts have called for the urgent modernisation of agriculture across West Africa, stressing the need to move beyond increased production and focus on transforming agricultural value chains to ensure food security and improved nutrition amid growing climate and population pressures. Climate change threatens Nigeria’s food systems as farmers count losses ….experts call for urgent, sustainable measures to mitigate impacts By Gabriel Ewepu ABUJA — Nigeria’s food system is facing growing threats from climate change as erratic rainfall, prolonged dry spells, flooding, rising temperatures, pests and diseases disrupt farming activities, slash yields and leave farmers counting losses running into billions of Naira. The situation, according to […] World Bank: Fuel price to slow Nigeria’s poverty reduction •Says rising pre-election spending may derail reforms •Raises Nigeria’s 2026 growth forecast to 4.3% •Projects 15.7% inflation rate for 2026 •44% of firms in Nigeria, Kenya adopt AI, power constraints threaten gains By Babajide Komolafe, Economy Editor The World Bank has warned that elevated fuel prices could slow Nigeria’s poverty reduction efforts despite an expected […] Government releases GH¢9.1b covering six quarters of DACF to MMDAs – Ayariga Mr Mahama Ayariga, the Minister of Local Government, Chieftaincy and Religious Affairs, has announced government's release of GH¢9.1 billion, covering six quarters of the District Assemblies Common Fund (DACF) to Metropolitan, Municipal, and District Assemblies (MMDAs) nationwide. Cedi was worst African currency in quarter 2, 2026 – World Bank According to the World Bank, the escalation of the conflict in the Middle East initially exerted broad-based pressure on African currencies.