Close Menu
OsunDailyNG
  • NATIONAL
  • LATEST
  • POLITICS
  • OSUN NEWS
  • METRO
  • ENTERTAINMENT
  • SPORT
  • BUSINESS
  • WORLD
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
OsunDailyNGOsunDailyNG
Subscribe
  • NATIONAL
  • LATEST
  • POLITICS
  • OSUN NEWS
  • METRO
  • ENTERTAINMENT
  • SPORT
  • BUSINESS
  • WORLD
OsunDailyNG
Home ยป Nigeria’s foreign reserves drop to record low of $24bn in 2024 – IMF
LATEST

Nigeria’s foreign reserves drop to record low of $24bn in 2024 – IMF

OsunDailyBy OsunDailyFebruary 12, 2024No Comments1 Min Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Nigeria's foreign reserves drop to record low of $24bn in 2024 - IMF
Share
Facebook Twitter LinkedIn Pinterest Email
Reach the right people at the right time with OsunDailyNG. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication at newsdesk@osundailyng.com Call or Whatsapp: +2348132512456 07056907162

The International Monetary Fund, IMF, says Nigeriaโ€™s foreign reserves dropped to a record low of $24 billion in 2024 from $33 billion last year.

The IMFโ€™s latest country report for Nigeria disclosed this, signalling potential challenges for Africaโ€™s largest economy.

It noted that the first half of 2023 witnessed a surplus in the current account, yet there was a notable decline in reserves.

โ€œThrough 2024โ€“25, the financial account will likely deteriorate, with no projected issuance of Eurobonds, large Fund and Eurobond repayments of $3.5 billion, and portfolio outflows.

โ€œHence, despite a current account surplus, officially reported reserves are projected to decline to $24 billion in 2024 before increasing again to $38 billion in 2028 as portfolio inflows resume,โ€ the report stated.

However, Central Bank of Nigeria, CBN, data showed Nigeriaโ€™s foreign reserves stood at $33.12 billion as of February 8, 2024.


Reach the right people at the right time with OsunDailyNG. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication at newsdesk@osundailyng.com Call or Whatsapp: +2348132512456 07056907162
24bn Drop Foreign IMF Nigerias Record reserves
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
OsunDaily
  • Website

Related Posts

Buhari rallies support for Tinubu on second anniversary

May 28, 2025

Anti-Matawalle protests sponsored by Zamfara Govt – APC group

May 10, 2025

Gunmen kill three security personnel during attack on anti-banditry office in Jigawa

March 6, 2025

Comments are closed.

Facebook X (Twitter) Instagram WhatsApp Telegram Threads
  • Home
  • Privacy Policy
  • Advertise with US
  • Contact Us
  • About Us
© 2025 OsunDailyNG Media Hub. Designed by OsunDailyNG Media Hub.

Type above and press Enter to search. Press Esc to cancel.

Join Osun DailyNG Media Hub

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.