Nigeria’s external reserves increased by 11 per cent from the $38.912 billion it was as of January 2, 2018, to $43.195 billion as of December 28, 2018.
This represented an increase by $4.3 billion within the period. The reserves had dropped to about $41 billion in November last year.

Save for a total of $5.36 billion Eurobond issued by the federal government last year, which bolstered the country’s reserves position, it would have depreciated significantly considering the combined effects of interest rate normalisation in some advanced economies which has resulted to increased capital outflows as well as the slump in crude oil price.


After successfully raising $2.5 billion from the Eurobond market last February, the federal government in November last year raised $2.86 billion to fund its 2018 budget deficit.
At $54 a barrel, international benchmark Brent crude was down at about 20 per cent in 2018.

The decline was the first annual loss and the biggest yearly drop since 2015, when both contracts fell more than 30 per cent.
Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth to undermine OPEC-led efforts to shore up the market, a Reuters poll had shown.

CBN Governor, Mr. Godwin Emefiele, recently pointed out that due to the ongoing interest rate normalisation in the United States, which has been predicted to extend to some other advanced economies in Europe, the central bank would focus on maintaining a stable exchange rate so that businesses can plan and to avoid a problem in the banking system assets.

“The choice for Nigeria is to maintain a stable exchange rate so that businesses can plan and we don’t create problem in the banking system assets,” he had explained.
According to him, practically, all emerging markets have suffered, not just by depreciation, but also loss of reserves since the interest rates normalisation commenced.

He also warned speculators in the forex market that they would lose their shirt, saying the central bank has enough war chest to sustain the stability in the forex market.
According to him, the central bank would continue to take measures to ensure stability in the forex market.

The President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, had on Monday said the strategic partnership between the central bank and ABCON has continued to ensure a stable exchange rate in the country.

“This sustained stability made the Bureaux De Change (BDCs) to continue to be the potent monetary policy tool of CBN exchange rate managements,” he said.
According to the ABCON boss, the market distortion by forex speculators, rent seekers, currency hoarders and frivolous demand that usually endangered naira stability have been successfully checkmated.

The buying/selling rates for dollar stood at N358/359.5; Pounds Sterling, N452/ N457 and Euro N404/N409.5 on Monday respectively.
In Port Harcourt, dollar buying/selling rates at the close of the year were at N359/361; Pounds Sterling, N457/N464 and Euro N405/N408 respectively.

In Abuja, dollar buying/selling rates closed last year at N359/360; Pounds Sterling, N464/N467 and Euro N407/ N410 respectively. In Kano, dollar buying/selling rates for last year were at N359/360; Pounds Sterling, N465/N472and Euro N407/N411 respectively.

more at https://www.akelicious.net/2019/01/nigerias-external-reserves-hit-432bn.html

wailers will still wail.
but Sai Baba till 2023

braveboy64:
wailers will still wail

nah, I can assure they would avoid this tread..
they are allergic to good news..

Good news

As @ May 2015, it was at $28.6bn

Oh lawd, the rate at which Nigeria external reserves has been growing for the past 3 years, let my aza also grow bigger this year. Amen!

It's only those without conscience that will wish PDP return to our national governance.

This was a reserve GEJ/Yar'Adua met at around $46bn, yet they found a way to deplete it to $28bn despite earning hundreds of billions of dollars in the years they ruled.

Nigeria will be working again Insha Allah... My concern mostly is whichever ways dis can transform to help d common man pls do..


Never again will PDP n Athieflators team criminals smell Aso rock again.

Next level here we come...

Deserve this PMB

borrowing to boost reserve.

Borrowed $5.36 billion Eurobond to boost reserve and deceive zombies.

No they wont.. Because they are not du mb like you sh it followers of apigshit! And you bu mb followers are just too foo l i sh to know that most news about FG does end up to be true.. eyin olosho followers.

braveboy64:
wailers will still wail

but Sai Baba till 2023

External reserve this external reserve that. Yet there is hunger in the land and the zombies will open their dirty mouth to tell us that "wailers will still wail". How much do you have in your account? The bitter truth is, nothing good will come out of a lifeless being.

edunwablog:
Nigeria’s external reserves increased by 11 per cent from the $38.912 billion it was as of January 2, 2018, to $43.195 billion as of December 28, 2018.
This represented an increase by $4.3 billion within the period. The reserves had dropped to about $41 billion in November last year.

Save for a total of $5.36 billion Eurobond issued by the federal government last year, which bolstered the country’s reserves position, it would have depreciated significantly considering the combined effects of interest rate normalisation in some advanced economies which has resulted to increased capital outflows as well as the slump in crude oil price.


After successfully raising $2.5 billion from the Eurobond market last February, the federal government in November last year raised $2.86 billion to fund its 2018 budget deficit.
At $54 a barrel, international benchmark Brent crude was down at about 20 per cent in 2018.

The decline was the first annual loss and the biggest yearly drop since 2015, when both contracts fell more than 30 per cent.
Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth to undermine OPEC-led efforts to shore up the market, a Reuters poll had shown.

CBN Governor, Mr. Godwin Emefiele, recently pointed out that due to the ongoing interest rate normalisation in the United States, which has been predicted to extend to some other advanced economies in Europe, the central bank would focus on maintaining a stable exchange rate so that businesses can plan and to avoid a problem in the banking system assets.

“The choice for Nigeria is to maintain a stable exchange rate so that businesses can plan and we don’t create problem in the banking system assets,” he had explained.
According to him, practically, all emerging markets have suffered, not just by depreciation, but also loss of reserves since the interest rates normalisation commenced.

He also warned speculators in the forex market that they would lose their shirt, saying the central bank has enough war chest to sustain the stability in the forex market.
According to him, the central bank would continue to take measures to ensure stability in the forex market.

The President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, had on Monday said the strategic partnership between the central bank and ABCON has continued to ensure a stable exchange rate in the country.

“This sustained stability made the Bureaux De Change (BDCs) to continue to be the potent monetary policy tool of CBN exchange rate managements,” he said.
According to the ABCON boss, the market distortion by forex speculators, rent seekers, currency hoarders and frivolous demand that usually endangered naira stability have been successfully checkmated.

The buying/selling rates for dollar stood at N358/359.5; Pounds Sterling, N452/ N457 and Euro N404/N409.5 on Monday respectively.
In Port Harcourt, dollar buying/selling rates at the close of the year were at N359/361; Pounds Sterling, N457/N464 and Euro N405/N408 respectively.

In Abuja, dollar buying/selling rates closed last year at N359/360; Pounds Sterling, N464/N467 and Euro N407/ N410 respectively. In Kano, dollar buying/selling rates for last year were at N359/360; Pounds Sterling, N465/N472and Euro N407/N411 respectively.

more at https://www.akelicious.net/2019/01/nigerias-external-reserves-hit-432bn.html

How will this protect the life of our soldiers? #BacktoDaura

Children of hate over to you . If they ask you what is the impact of an increasing foreign reserve in the life of an average Nigerian , ask them what was the impact of a dwindling foreign reserve in their life .

See as Dem dey console them selves agents of failures.. I swear 95% of apigshit followers are too foo l ish

Hope our foreign debt isnt also growing in that manner or even moreso

Why are they not talking about this one


Just looking for cheap point here and there


Our mumu don do

My fear is now that oil price is below the fixed amount to service 2019 budget, what measures are being put in place by the government to augment the shortfall?

Agreed OPEC targets $70 which likely may be the maximum price but what if the projection turns out to below par?

The era of oil & gas is gone for good and as time goes on will become obsolete. Common Kenya is thinking tech but Nigeria choose to remain in archaic and oblivion era.

igwefivestar:
How will this protect the life of our soldiers? #BacktoDaura

Like you care

Ogaga87:
Why are they not talking about this one


Just looking for cheap point here and there


Our mumu don do

There is no country without debt .

I see

Gecoz:
See as Dem dey console them selves agents of failures.. I swear 95% of apigshit followers are too foo l ish

Use ur PVC to vote him out biko n stop e-fighting.

People are still jobless leave external reserve alone. Create job

Our Data Prices Are So Cheap.

Instant Delivery, One Seconds Is Too Much.

MTN
DATA

1GB - N565

2GB - N1130

5GB - N2500 (3 months validity)

GLO DATA

1GB - 550

2GB - #900

4.5GB - #1700

7.2GB - #2000

8.25GB - #2400

12.5GB - #3300

15.6GB - #3700 (1month validity)

AIRTEL DATA

1.5GB - #970

3.5GB - #2100

5.5GB - #2600

9MOBILE DATA

1.5GB - #1050

3GB - #2100

4GB - #2650

5GB - #3150

10GB - #6600 (1month validity)

To check your data balance

MTN - *461*3#

GLO - *127*0#

AIRTEL - *140#

ETISALAT - *229*9#

MTN, Glo, Airtel, 9mobile Airtime of any amount*

OUR CONTACT DETAILS

CALL/SMS/WHATSAPP - 0 8 0 5 4 5 1 5 7 6 1

As u use your pvc vote out your foo Lish ment abi? This one na one Stu p id PDP supporter

OhiOfIhima:


Use ur PVC to vote him out biko n stop e-fighting.

That's good to hear

GOD BLESS OUR PRESIDENT MUHAMMADU BUHARI

Allah Akbar!
Enough to loot! Enough for Jubril surgery!

To the wailing zombies that dont like reading any good news about their country...

You wake up every morning and rush to social media in search of bad news of this nation,
so that you will comment and share it among your friends.......
but when you see the good news ,you pretend to be blind.
And every night you stay in one corner of your room praying to God to bless anything you lay your hands on in the same country 
Hmmmm!!! May God forgive and have mercy on you.
#May OUR President Succeed 
#When Nigeria become great , you will surely see this, but..........