Wednesday, July 23, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Nigeria’s FX Reserves Rebound to Three-year High at $23.1 Billion

Simon Osuji by Simon Osuji
April 3, 2025
in Business
0
Nigeria’s FX Reserves Rebound to Three-year High at $23.1 Billion
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Nigeria’s net foreign exchange reserves (NFER) surged to $23.11 billion by the end of 2024—the highest in three years—signaling renewed strength in the nation’s external financial position. This marks a sharp recovery from $3.99 billion at the end of 2023, $8.19 billion in 2022, and $14.59 billion in 2021. The growth was driven by reduced short-term liabilities such as swaps and forward contracts, according to the Central Bank of Nigeria. In addition, the CBN cited deliberate reforms aimed at restoring market confidence and cutting vulnerabilities, as well as an increase in non-oil forex inflows. Nigeria’s gross external reserves also rose to $40.19 billion from $33.22 billion the previous year. Although Q1 2025 saw a dip due to debt interest payments, the CBN expects reserves to climb steadily due to higher oil production and non-oil export earnings.

Source: Nairametrics

Source link

Related posts

Namibia outlines bold strategy as first female president targets $6,000 income per capita

Namibia outlines bold strategy as first female president targets $6,000 income per capita

July 23, 2025
Dangote exposes black market fuel cartels undermining refinery development in Africa

Dangote exposes black market fuel cartels undermining refinery development in Africa

July 23, 2025
Previous Post

Striking Oil in Opportunity Zones: Now Might Be the Best Time to Invest

Next Post

Kakuzi Eyes Lucrative U.S. Avocado Market

Next Post
Kakuzi Eyes Lucrative U.S. Avocado Market

Kakuzi Eyes Lucrative U.S. Avocado Market

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Methane Pollution Has Cheap, Effective Solutions That Aren’t Being Used

Methane Pollution Has Cheap, Effective Solutions That Aren’t Being Used

1 month ago
8 Practical Ways to Reduce Your Office’s Environmental Footprint

8 Practical Ways to Reduce Your Office’s Environmental Footprint

2 years ago
Australia Kills Free Speech For Americans? Not!

Australia Kills Free Speech For Americans? Not!

8 months ago
Plea for Statera Kintore hydrogen

Plea for Statera Kintore hydrogen

3 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Tanzania’s natural gas sector goes global with Dubai deal

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.