Nigeria is leading South Africa in net foreign reserves as that of the West African country hits $47.37 billion in March 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.

The CBN Governor, Godwin Emefiele, announced the new balance in the reserves at the opening of the 25th seminar for Business Editors and financial Correspondents in Uyo. Mr Emefiele, who was represented by the newly appointed deputy governor, Corporate Services, Edward Adamu, said the CBN hopes to meet the $50 billion target before the end of the year.

SOURCE: https://www.vanguardngr.com/2018/05/nigeria-leads-south-africa-foreign-reserves/

I am sure you have no clue what foreign reserves are .
FYI Nigeria has more foreign reserves that the US .

So what?

And so?

And South Africa leads Nigeria in infrastructure and human capital development. The way we celebrate meaningless data, awards and titles in this country ehn! That was how one otondo President and his Zuwo Finance Minister re-calibrated and said we were Africa's biggest economy, while they were busy looting the treasury. Mscheeewwww!

Sai Bubu till 2023
Foreign Exchange Reserves are assets held by a central government or other monetary authority, usually in various reserve currencies. ... The main purpose of holding foreign exchange reserves is to make international payments and hedge against exchange rate risks.

I just read that our exchange rate has been stabilized; U mean at $1=#360? Nawao.
Moreover, economists in the house should help me explain how this foreign reserve affects the life of a common man who still buys things very costly

Propaganda not taking APC anywhere...

How much has been borrowed by this government before we start talking about foreign reserves?

aribisala0:
I am sure you have no clue what foreign reserves are .
FYI Nigeria has more foreign reserves that the US .

So what?

Really?

Finally

This is only to the cabal's benefit. Let's see how much remain when they leave power.

Printerscanner:
Nigeria is leading South Africa in net foreign reserves as that of the West African country hits $47.37 billion in March 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.

The CBN Governor, Godwin Emefiele, announced the new balance in the reserves at the opening of the 25th seminar for Business Editors and financial Correspondents in Uyo. Mr Emefiele, who was represented by the newly appointed deputy governor, Corporate Services, Edward Adamu, said the CBN hopes to meet the $50 billion target before the end of the year.

SOURCE: https://www.vanguardngr.com/2018/05/nigeria-leads-south-africa-foreign-reserves/

Crude Oil price influence no ni.

So when will the ordinary man on the streets start benefiting from the Rise of Crude oil price and increase in external reserves?

Nigeria dey try,just that.....................................

Okay...
Now make I go back go read wetin OP post

My people don't ever believe what you read.
Nigeria is still the giant of shit hole.
Even Kenya are better in terms of economic development.
BUHARI MUST GO

N so whaaaa? The said reserve that Efi Buhari is using to jet round the world shey? Who is Emefiele deceiving?

What of in infrastructure?

And borrowed how much in the corresponding period?

eku orii ire

We don tire to dey hear this kind news. Let it translate into reality then we will concur.

He said whaaaa? The said reserve that Efi Buhari is using to jet round the world shey? Who is Emefiele deceiving?

Same Nigeria leads the entire Africa in terms of debt. We are the biggest debtor in Africa

Lomprico2:

Foreign reserve we go eat shey?

all in all, like if you want Buhari out and share if you still want him in power.
Cos Ayam not understanding

tofolo:
Really?

Really yes !!


What exactly is it a measure of can you tell is in not more than 10 words?

Is it a measure of the health of an economy or the well being of its people?


Otherwise you would not talk about one country leading another.

https://www.youtube.com/watch?v=wVxAyqkQTZM

Nigeria's foreign reserves hit 4 year high at $47 billion

How big is south Africa compared to nigeria....

mamaa88:
And so?

Nigeria also leads South-Africa in m0ronic sai babarism and herdsmen cover-up.

Cc salamrushdie lzaa pointzerom iceberg3 shalomc onyeoga madridguy buhariguy itsmeaboki

Britishcoins:
My people don't ever believe what you read.
Nigeria is still the giant of shit hole.
Even Kenya are better in terms of economic development.
BUHARI MUST GO

u also read that Kenya is better . so why should we believe u too

appreciate ur own more than the outside .. that is the reason why other country develop because they appreciate what they have...