Nigeria’s foreign reserves grew by $540.28 million in two weeks, reaching $43.17 billion as of October 30, according to Central Bank of Nigeria data.

The figure marks a 1.3% increase from $42.63 billion on October 13 and a 1.8% rise from the start of October. The liquid portion of reserves rose by $579.62 million to $42.55 billion, while blocked reserves declined slightly to $618.63 million, reducing their share to 1.43%.

Analysts attribute the growth to improved oil export receipts, higher diaspora remittances, and renewed foreign capital inflows. The rise strengthens Nigeria’s external buffers, giving the CBN greater capacity to stabilize the naira and manage external shocks.

Experts expect reserves to keep rising if oil production and inflows remain steady in the coming months. Visit www.jocomms.com for more news.