After 10 months of consistent decline, Nigeria’s foreign reserves returned to a growth path, gaining $449.5m in one week.
According to the CBN, the reserves rose from $33.44bn in April ending to $33.9bn as at May 5.
The International Monetary Fund had stated that the sharp fall in international oil prices, together with reduced global demand for oil, was worsening the Nigeria’s fiscal and external positions.
The economy which remained highly reliant on foreign exchange proceeds and the recycling of petrodollars is expected to contract by about 3.4 per cent this year, a six percentage point drop compared to pre-COVID-19 projections.
After 10 months of consistent decline, Nigeria’s foreign reserves returned to a growth path, gaining $449.5m in one week.
According to the CBN, the reserves rose from $33.44bn in April ending to $33.9bn as at May 5.
The International Monetary Fund had stated that the sharp fall in international oil prices, together with reduced global demand for oil, was worsening the Nigeria’s fiscal and external positions.
The economy which remained highly reliant on foreign exchange proceeds and the recycling of petrodollars is expected to contract by about 3.4 per cent this year, a six percentage point drop compared to pre-COVID-19 projections.
After 10 months of consistent decline, Nigeria’s foreign reserves returned to a growth path, gaining $449.5m in one week.
According to the CBN, the reserves rose from $33.44bn in April ending to $33.9bn as at May 5.
The International Monetary Fund had stated that the sharp fall in international oil prices, together with reduced global demand for oil, was worsening the Nigeria’s fiscal and external positions.
The economy which remained highly reliant on foreign exchange proceeds and the recycling of petrodollars is expected to contract by about 3.4 per cent this year, a six percentage point drop compared to pre-COVID-19 projections.
After 10 months of consistent decline, Nigeria’s foreign reserves returned to a growth path, gaining $449.5m in one week.
According to the CBN, the reserves rose from $33.44bn in April ending to $33.9bn as at May 5.
The International Monetary Fund had stated that the sharp fall in international oil prices, together with reduced global demand for oil, was worsening the Nigeria’s fiscal and external positions.
The economy which remained highly reliant on foreign exchange proceeds and the recycling of petrodollars is expected to contract by about 3.4 per cent this year, a six percentage point drop compared to pre-COVID-19 projections.
After 10 months of consistent decline, Nigeria’s foreign reserves returned to a growth path, gaining $449.5m in one week.
According to the CBN, the reserves rose from $33.44bn in April ending to $33.9bn as at May 5.
The International Monetary Fund had stated that the sharp fall in international oil prices, together with reduced global demand for oil, was worsening the Nigeria’s fiscal and external positions.
The economy which remained highly reliant on foreign exchange proceeds and the recycling of petrodollars is expected to contract by about 3.4 per cent this year, a six percentage point drop compared to pre-COVID-19 projections.
After 10 months of consistent decline, Nigeria’s foreign reserves returned to a growth path, gaining $449.5m in one week.
According to the CBN, the reserves rose from $33.44bn in April ending to $33.9bn as at May 5.
The International Monetary Fund had stated that the sharp fall in international oil prices, together with reduced global demand for oil, was worsening the Nigeria’s fiscal and external positions.
The economy which remained highly reliant on foreign exchange proceeds and the recycling of petrodollars is expected to contract by about 3.4 per cent this year, a six percentage point drop compared to pre-COVID-19 projections.
After 10 months of consistent decline, Nigeria’s foreign reserves returned to a growth path, gaining $449.5m in one week.
According to the CBN, the reserves rose from $33.44bn in April ending to $33.9bn as at May 5.
The International Monetary Fund had stated that the sharp fall in international oil prices, together with reduced global demand for oil, was worsening the Nigeria’s fiscal and external positions.
The economy which remained highly reliant on foreign exchange proceeds and the recycling of petrodollars is expected to contract by about 3.4 per cent this year, a six percentage point drop compared to pre-COVID-19 projections.
After 10 months of consistent decline, Nigeria’s foreign reserves returned to a growth path, gaining $449.5m in one week.
According to the CBN, the reserves rose from $33.44bn in April ending to $33.9bn as at May 5.
The International Monetary Fund had stated that the sharp fall in international oil prices, together with reduced global demand for oil, was worsening the Nigeria’s fiscal and external positions.
The economy which remained highly reliant on foreign exchange proceeds and the recycling of petrodollars is expected to contract by about 3.4 per cent this year, a six percentage point drop compared to pre-COVID-19 projections.
Related posts:
Naira Extends Gain on Parallel Market, Now $449/$1
Over 6,000 Nigerian Youths to gain External Validation Credentials
Nigeria’s external reserves dip to $24.8bn
Nigeria’s external reserves climb to $25b
External reserves rise by $1bn in 2 weeks
Nigeria’s external reserves rise by 12pct
Nigeria External Reserves rise to $39billion
Nigeria’s external reserves drop by $523m to $34.475bn
