2015: Nigeria’s Foreign Reserves Fall Below $30 Billion
Posted on 01/03/2016
On December 30, 2015, the Central Bank of Nigeria’s (CBN) foreign exchange reserves stood at US$ 29.1 billion. Comparing this to December 31, 2014, where reserves hovered at US$ 34.47 billion. A major cause in the fall of external reserves was a shortage of U.S. dollars. Nigeria is sub-Saharan Africa’s top crude oil exporter. Nigeria’s […]
