External reserves gained $7.9bn in 2024
Foreign currencies forex
Nike Popoola
Nigeria’s external reserves recorded a significant gain of $7.9bn in 2024.
According to figures obtained by Dailyeconomy from the Central Bank of Nigeria ((CBN) on movement in reserves, the country’s reserves rose from $32.912bn as of December 29, 2023 to $40.846bn as of the end of December 24, 2024.
At the last Monetary Policy Committee (MPC) meeting in November, the CBN Government, Mr. Olayemi Cardoso, said the country’s external reserves could finance 17 months of imports.
“The external reserves rose marginally to $40.88bn as at 21st November
2024 from $40.06bn at end-October 2024, available to finance 17
months of imports,” he said.
