Nigeria’s foreign reserves has reached an over eight month low of below forty two billion dollars.
Economic analysts are divided on reasons for this decline but say the country has to take alternative revenue generation sources more seriously.
Nigeria’s foreign reserves are presently below forty two billion dollars, their lowest level in more than eight months.
The reserves inched up to a forty seven point eight billion dollar high in May before plunging to its present figure of forty two billion dollars in October, Its lowest level since February this year.
The Central Bank of Nigeria blames this decline on capital flow reversals attributable to higher yields in the United States.
Advertisement
Some economy watchers agree.
Related posts:
Financial experts advise FG on alternative source of revenue to fund 2024 budget
NBC should seek other ways of revenue generation-Anthony Kila
Nigeria’s foreign reserve rises to $33bn
Nigeria’s foreign reserve hits $43.047 Billion
Mortgage Advice Bureau Sees 22% Growth in Revenue and Pretax Profit in Year 2022
Mortgage Advice Bureau Sees 22% Growth in Revenue and Pretax Profit in Year 2022
Revenue generation, key weakness for Nigeria – Moody’s
Nigeria’s problem is revenue generation, not debt -Finance Minister
