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CBN: Fuel Subsidy, Import Costs, External Debt Pose Risk To External Reserves

CBN: Fuel Subsidy, Import Costs, External Debt Pose Risk To External Reserves

The Central Bank of Nigeria (CBN) has warned that the removal of fuel subsidy, rising import costs, and increased external debt servicing could negatively impact the growth of the nation’s external reserves in 2024/2025. This…

External reserves rise for first time in 2 months

External reserves rise for first time in 2 months

Nigeria’s external reserves rose to $36.67billion as of March 28, 2023 from $35.64billion on March 27, the first increase since February 2, 2023 (nearly two months), latest data from the Central Bank of Nigeria (CBN)…

External reserves drop by $170.91m in 8 days

External reserves drop by $170.91m in 8 days

The nation’s external reserves fell by $170.91million in eight days to $39.27billion as of July 26, 2022, from $39.44billion on July 18, data obtained from the Central Bank of Nigeria (CBN) shows. New Telegraph’s analysis…

External reserves gain $31.68m in six days

External reserves gain $31.68m in six days

…surge linked to $1.25bn raised via Eurobond Nigeria’s external reserves may have halted its recent downward trend as it rose by $31.68million between March 23 and March 29, 2022, latest data from the Central Bank…

Nigeria’s external reserves halt 17-day uptrend

Nigeria’s external reserves halt 17-day uptrend

Nigeria’s external reserves, which have maintained an upward trend since February 15 2022, rising to $39.873 billion on March 3, dropped slightly to $39.870billion and $39.800billion on March 4 and March 7 respectively, latest data…