Nigeria’s external reserves climbed to $40.920 billion as of January 6, 2025, up from $40.292 billion recorded on December 2, 2024.
This data, sourced from the Central Bank of Nigeria (CBN) and obtained by Waffi TV on Wednesday, reflects a month-on-month increase of $628 million.
The growth follows the government’s successful $2.2 billion Eurobond auction conducted on December 2, 2024, which served as a critical financial buffer. The increase highlights the effectiveness of Nigeria’s strategic measures in stabilizing its foreign exchange reserves despite persistent external and internal pressures.
Notably, the proceeds from the Eurobond issuance provided significant support to the country’s foreign reserves during this period. In December 2024, Nigeria’s $2.2 billion Eurobond sale marked a crucial step in addressing the nation’s fiscal deficit challenges.
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