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Nigeria’s foreign reserve rises to $33bn
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Nigeria’s foreign reserve rises to $33bn

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Nigeria’s foreign exchange reserves has risen to a 31-month high of $33 billion.

CBN spokesman, Isaac Okoroafor says the rise in reserves is derived from the proceeds of crude oil earnings.

The Nigerian economy, which recently exited from a debilitating recession, with data from the National Bureau of Statistics (NBS) showing that the economy expanded by 0.55 per cent in the second quarter (Q2) of 2017, was driven mainly by the performance of the oil and three other sectors.

Oil sector grew significantly by 17.04 percentage in the 2nd quarter.

 

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