World Bank Report: Nigeria’s External Reserves Rise to $53.8bn as Growth Strengthens

A new World Bank report says Nigeria’s economy grew by 4.2% in the first half of 2026, while external reserves rose from $45.5 billion at the end of 2025 to $53.8 billion by August 2026. The report projects average economic growth of at least 4.4% between 2026 and 2028. The report also said the current account surplus reached $12 billion in the first half of 2026. It noted that inflation fell from 27.6% in January 2025 to 15.2% in December 2025, although global fuel-price pressures may slow further declines. President Bola Tinubu linked the improvements to subsidy removal, foreign-exchange reforms and fiscal discipline. He said the government would expand cash transfers, support agriculture, deploy more compressed natural gas and pursue lower food prices, jobs, healthcare and education. The World Bank added that higher federation revenues enabled states to increase spending on infrastructure and social services. It urged prudent use of the additional funds to improve living standards.

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