Nigeria’s foreign reserves declined by $547 million over a 15‑day period in March 2026, dropping from $50.03 billion on March 11 to $49.48 billion on March 26.
Data from the Central Bank of Nigeria shows the decline occurred gradually, with daily reductions rather than a sharp fall.
Analysts suggest the movement may be linked to foreign exchange payment obligations, reversing the positive trend seen earlier in the year when reserves rose by $509 million in January.
The reserves’ volatility highlights Nigeria’s sensitivity to global oil markets and domestic policy actions.
Similar short‑term fluctuations have occurred in past years, including a $1.1 billion drop in October 2018.
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The latest decline underscores the challenges of sustaining external stability amid rising imports and foreign exchange pressures.
Despite the dip, the Central Bank maintains an optimistic outlook, projecting reserves could reach $51 billion by the end of 2026.
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The target is part of a broader strategy to strengthen balance‑of‑payments resilience and boost investor confidence.
