Nigeria is leading South Africa in net foreign reserves as Nigeria’s reserve hits $47.37 billion (N17 trillion) in March 2018 to beat South Africa which has $43.15 billion. Nigeria which recently recovered from economic recession with less than $21 billion in foreign reserves has built up its reserves massively over one and half years. The increase in the country’s foreign reserves is reported to have stabilised its foreign exchange which had gone haywire in the past.

South Africa’s reserves fell to $43.115 billion in April from $43.384 billion in March, the Reserve Bank said on Tuesday. The forward position, which represents the central bank’s unsettled or swap transactions, was lower at 1.933 billion dollars from 1.996 billion dollars in the previous month.

“The decrease of 440 million dollars in the gross reserves reflects the foreign exchange payments made on behalf of the government and the appreciation of the U.S. dollar against most currencies,” the central bank said. Nigeria’s new figures rose from about $46.2 billion realised at the end of March.

How wish this can be impacted on people accordingly.

So, how does that make our standard of living here better than those in South Africa

If you keep your money in the bank, it will remain in the bank but if you invest your money, it will multiply and bring in more money and also build economy.

Nigerian also leads South Africa in net poverty, deaths and terrorism.

Chizuru01:
a

land grabber

saaron:
Nigerian also leads South Africa in net poverty, deaths and terrorism.

that's harsh , wicked

Nigeria has a population 5 times that of South Africa, it's shouldn't be ever comparing itself with South Africa. South Africa are doing better if you divide the foreign reserve to population. South Africa has 40 000 Megawatts of electricity and better per capital earning. We are on the right track anyway.

By now, Monkeys in Aso Rock is jumping up and down with there dick up ready to cu.m just because of this news which will be used to deceive the gullible ones

Am waiting

its not good news for bad belle

How does that affect the lives of Nigerians

What a trash if we can start by comparing SA with Nigeria now some we say our democracy are still young. South Africa have one of the best road network in the World while Nigeria own death trap, South Africa have one of the best and free medical system in the world while our poor Nigeria are dieing simple because they can't afford to pay for Hospital, South Africa have one of the best Social welfare in the World, old age grant starting from 60yrs up are paid R1700 (N34,000) every month, Child grant from day one to 18yrs are paid R370 ( N7400 ) every month, disability grant, our so call Social grant of N5000 can not be traceable on who is receiving it. Some South African citizen don't know what is Electric Generator but Nigeria can not stay a single day with Electricity if not Generator. I can go on and on but let me ask op what Nigeria citizen are gaining from so call foreign reserves?

cc : lalasticalala egbon oya

these people are jst too funny, is it by funny reserv？ do u know how many Nigerian youths that will be happy to go to south Africa is given the opportunity？ or are they trying to tell us that Nigeria is now better than south Africa？pls someone should help me to explain because ayam nt understanding..

Make una no make me vex at all, even south african prisoners're feeding and living better than us. Leading net foreign reserves, and some people're still trekking to libya.

I don't know that we should be comparing ourselves to little brother South Africa.


But it's good if our reserves are growing and not just that we beat South Africa because their own reserves fell.


At least it's better than Badluck Jonothing that almost emptied the reserves despite huge crude earnings.


Yet a lot is still left to be desired. This wasn't what was promised during the campaign, Mr Buhari.