Poly(p-phenylene benzobisoxazole) (PBO) has been synthesized in the presence of single-wall carbon nanotubes (SWNTs) in poly(phosphoric acid) (PPA) using typical PBO polymerization conditions. PBO and PBO/SWNT lyotropic liquid crystalline solutions in PPA have been spun into fibers using dry-jet wet spinning. The tensile strength of the PBO/SWNT fiber containing 10 wt % SWNTs is about 50% higher than that of the control PBO fibers containing no SWNTs. The structure and morphology of these fibers have been studied.