Nigeria's Foreign Reserves Hit $46 Billion, Highest Level Since 2018
Nigeria's Central Bank announced that the nation's foreign reserves have exceeded $46 billion, the highest level recorded since 2018. Dr. Muhammad Abdullahi, the Deputy Governor in charge of economic policy, disclosed this achievement during the 20th-anniversary celebration of the Monetary Policy Department in Abuja.
The CBN Governor highlighted the significance of this milestone as a turning point in the bank's policy reform efforts. The increase in reserves is attributed to improved oil receipts, stronger portfolio inflows, and ongoing reforms stabilizing the foreign exchange market.
Additionally, Nigeria's macroeconomic outlook has strengthened, with improvements in inflation rates and a more stable currency.
Plus234Feed summary based on reporting from NaijaNews. Read the original report below.
Read full article
Continue on NaijaNews
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigeria's Foreign Reserves Surge to $46 Billion, Highest Since 2018
Nigeria's Foreign Reserves Hit $46.7 Billion, Highest in 8 Years
Nigeria's Foreign Reserves Hit 7-Year High at $46.7 Billion, Boosting Investor Confidence
Nigeria's External Reserves Surpass $45 Billion Mark for the First Time in Six Years
Nigeria's Foreign Reserves Reach 7-Year High, Naira Strengthens Amid Market Boost
Nigeria's Foreign Reserves Surge to $43.17 Billion in Two Weeks
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
