Nigeria’s Reserves Hit $54bn, Omole Hails Tinubu Reforms

Nigeria’s external reserves have crossed the $54 billion mark for the first time since December 2008, reaching $54.08 billion as of September 3, 2026,

According to the latest data released by the Central Bank of Nigeria (CBN). The figure represents an 18-year high and brings the country within touching distance of its all-time reserve peak of $54.21 billion recorded in December 2008.

Reacting to the development, Prince Ade Omole, Chairman of the Nigeria Diaspora Voting Council (NDVC), Deputy Director, Diaspora Mobilisation I, APC Presidential Campaign Council (PCC), and a leading voice in Nigeria’s diaspora engagement circles, described the achievement as a clear indication that President Bola Ahmed Tinubu’s economic reforms are producing measurable results.

Omole said the reserve build-up, which has added about $8.5 billion since the beginning of the year, reflects disciplined monetary management, stronger earnings from the oil sector and improved investor confidence in the naira. He noted that the milestone strengthens the Central Bank’s capacity to defend the currency, meet the country’s external obligations and cushion the economy against global shocks. According to him, the development projects Nigeria as a country whose macroeconomic fundamentals are steadily improving rather than deteriorating.

He linked the achievement to the 2027 general election, saying the reserve position provides concrete and verifiable evidence, rather than campaign rhetoric, that President Tinubu’s Renewed Hope Agenda is on the right track.

He urged Nigerians to look beyond the short-term pains of the reforms and recognise the long-term gains now becoming visible in the country’s external buffers, the appreciating naira and rising diaspora remittance inflows, which he said crossed record levels in July 2026.

Beyond the reserves milestone, Omole cited the administration’s sustained subsidy reforms as another reason Nigerians should rally behind the President.

He said the reforms have freed trillions of naira that can now be redirected towards infrastructure, healthcare and social investment programmes, arguing that the fiscal discipline is laying the foundation for broader and more inclusive growth ahead of 2027.

Omole called on Nigerians at home and in the diaspora to remain patient and supportive of the administration’s economic direction, describing the reserve milestone as proof that “the numbers are finally speaking for themselves.”

Hon. Victor Okebunmi
Senior Special Assistant (Publicity)
Renewed Hope Global.
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