Foreign exchange reserves have reached a high point, with current levels standing at $54.13 billion. This amount is the second highest on record. A historical peak was recorded in 2008, when reserves were $62.08 billion. The current reserve level is attributed to reforms. Details about the reforms and reserve levels are available from the Central Bank of Nigeria.
Reserve levels have fluctuated over the years, with various peaks recorded since 1999. The highest peaks include $54.13 billion and $53.25 billion in 2009.
Further information about the reserve levels and the factors contributing to the current high point can be found in a post by O'tega Ogra, Senior Adviser to President Bola Tinubu.
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