Nigeria's Foreign Reserves Hit a 13-Year High as the Naira Steadies Near ₦1,400

Nigeria’s external reserves have climbed to roughly US$50 billion, their highest in about 13 years, while the naira has held near ₦1,400 to the dollar and the official–parallel market gap has narrowed sharply. Officials credit FX reforms, cleared obligations, and stronger inflows for restoring a buffer against external shocks.

The gains sit alongside real hardship: high lending rates, elevated debt service, and a cost-of-living squeeze that many households still feel acutely after subsidy removal and devaluation.

What this means for you: a steadier naira and fuller reserves can ease remittance and import-pricing volatility, but everyday affordability inside Nigeria remains under pressure.

Source: Nairametrics, Vanguard.