Foreign reserves drop to $32.61 billion

Data obtained from the Central Bank of Nigeria did not state the factors responsible for the slide, which is the lowest in six years. Data obtained from the Central Bank of Nigeria did not state the factors responsible for the slide, which is the lowest in six years.

Experts are insisting that Naira appreciation is a trade-off, citing funds that are needed for the stability of the currency. The devaluation of the Naira has led to the increment in the amount that is needed to service Nigeria’s debt, and with the costs of building materials and import duties on the rise in the last few weeks, the government dipping its hands in the reserves is expected.Before flagging, please keep in mind that Disqus does not moderate communities.

The Chief of Army Staff , Lt.-Gen. TaoreedLagbaja, has urged the field commanders to remain committed and restore sanity in troubled areas across the country.He also told the officers to be more vigilant and circumspect as the country is in an uncertain and volatile season. Manager, Asset Integrity, NNPC-ATAMS Producing, Dr Musa Adamu, has said the process of drilling oil in Nasarawa State is ongoing and will soon reach the reservoir, due to some challenges.

Yemi Cardoso

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