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Nigeria’s foreign exchange reserves declined in April 2026, easing to $48.37 billion from $49.44 billion in March, according to data updated on 30 April 2026. The dip underscores ongoing pressures on the country’s external buffers amid a challenging global environment and persistent domestic foreign-currency demand.
The roughly $1.07 billion month-on-month decrease may reflect a combination of factors, including interventions by monetary authorities to stabilise the naira and meet import and debt-service obligations. While the reserves level remains sizable, the April movement will be closely watched by investors assessing Nigeria’s external resilience and its capacity to manage capital flows and exchange-rate volatility.
Market participants are likely to monitor subsequent monthly readings to determine whether this April decline marks the start of a trend or a temporary adjustment in Nigeria’s reserve management strategy. For now, the latest data signal a modest softening in the country’s foreign-currency cushion heading into the middle of 2026.