The Nigerian Economic Summit Group has projected that Nigeria’s external reserves will rise to about $53bn by the end of 2026, even as it urged the Federal Government to prioritise the mobilisation of diverse sources of patient capital over continued reliance on public resources.
The projection was contained in addresses and presentations delivered on Wednesday in Lagos at the Nigerian Industrialisation and Competitiveness Forum.
Presenting the NESG H2 Economic Outlook, the Interim Director of Research and Development at the NESG, Dr Joseph Ogebe, said the external sector would remain resilient in the second half of 2026, with the naira staying broadly stable.
“The external sector is expected to remain resilient during H2-2026, with the naira broadly stable and the external reserves projected to increase to about US$53bn by year-end,” Ogebe said.
He attributed the projected reserve accumulation to higher crude oil production, favourable oil prices, stronger non-oil exports and sustained current account surpluses, adding that improved investor confidence, higher foreign portfolio inflows, stronger diaspora remittances and continued foreign exchange market reforms would strengthen FX liquidity.
