Nigeria, July 21 -- Nigeria's gross external reserves have increased to $52.52 billion, providing import cover for approximately 11 months of goods and services, according to the Central Bank of Nigeria (CBN).

CBN Governor Olayemi Cardoso disclosed this at the end of the 306th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.

At the meeting, the apex bank retained the interest rate for the second time in 2026 at 26.5 per cent, citing the recent resurgence of hostilities in the Middle East.

The CBN boss also stated that Nigeria's gross external reserves rose from $50.47 billion recorded at the end of May 2026 to $52.52 billion as of 17 July.

The central bank said the gross reserves increase is driven largely by receipts from...