NewStats: 3,263,541 , 8,180,503 topics. Date: Friday, 06 June 2025 at 12:35 PM 5u5fu

Nigeria’s external reserves fell by $841.75m between July and September, figures obtained from the Central Bank of Nigeria revealed.

The CBN revealed in its report on the movement of external reserves that the reserves, which stood at $34.07bn as of July 7, 2023, fell to $33.23bn as of October 5, 2023.

External reserves fell by $2.85bn in the first half of 2023 due to external debt finance among other challenges, figures obtained from the CBN showed.

The CBN had earlier revealed that the reserves which commenced January 3, 2023, at $37.07bn fell to $34.22bn as of the end of June 26, 2023.

According to personal statements released by the CBN by Monetary Policy Committee , as of July, accretion to external reserves remained weak while foreign exchange demand pressures persisted.

Former acting Governor, CBN, Folashodun Shonubi, had stated that, “Eventual stability of the foreign exchange market over the medium-term, will further help to achieve price stability.

“Besides, the recent removal of subsidy could have a favourable effect on price stability as increased crude oil receipts by the government will bolster reserves, engender exchange rate stability, and help to moderate inflation.”

https://punchng.com/external-reserves-fall-by-841m-in-three-months/

Them think say na play Jagaban come play. In 2 years time, na wheelbarrow una go dey use wheel money to buy bread.
We are even ready to increase minimum wage to 1million naira but trust me, it won't be enough to buy a bag of rice.

Hoelujohn:
Them think say na play Jagaban come play. In 2 years time, na wheelbarrow una go dey use wheel money to buy bread.
We are even ready to increase minimum wage to 1million naira but trust me, it won't be enough to buy a bag of rice.

Na Mugabe style be dat.

Naira future in the official market ( for the next 3 months) is now about 850 to the Greenback, meaning Naira will dip further in the black market.

This actually means more winter months for Nigerians. Folks should prepare for additional increase in inflation rate in the coming months.

Once again, i ask, who discovered Nigeria? Lord Luggard or APC?

Nigerian's are good with the logo, "suffering and smiling".
This is bad.

Jessyjeff:
Naira future in the official market ( for the next 3 months) is now about 850 to the Greenback, meaning Naira will deep further in the black market.

This actually means more winter months for Nigerians. Folks should prepare for additional increase in inflation rate in the coming months.

Once again, i ask, who discovered Nigeria? Lord Luggard or APC?

Dip

It has always been falling since we have been having backward leaders who were never intentional about governance and the state of the nation but their selfish and individual ambitions...

We warned them.
When you hand over 219 million people to a certified drug dealer and certificate forger to lead, that's what you get.

He has simply continued form where the Daura Cow stopped. The treasury is for him and his cronies.

Even Vulture Griller in all his gullibility would perform better than Amoda.
At least, rotten vultures would be grilled and shared as palliatives.

Chisus and prophet Muhammad please where una dey oooooo.

Buhari please come back. Frog eye druggie has killed us. See what oduduwpigs has plung us into due to ethnicity.

Mama Alakija is even richer than Nigeria

Dem use am de chase court case.

Compensating cronies and recuperating funds spent during the election.

What has not fallen?

We are saving subsidy money crew how far next time ...when Nigerians see an old man that should be resting with his grand children telling us is his turn to be president for us ...we should tell him grandpa your time has long gone...old druggified brain can't revamp the economy of this great nation

I don dey lose hope for this baba regime oo..Ha ha kilode?

We don't need his physical body, we only need his brain.
He built the lagos master plan which successive governments has followed.
He is a first class ant.

He is dealing with us yorubas that voted him. Hunger, diseases and starvation is killing us and our children.
We voted for him because he's our tribesman now our fathers can no longer train us. Many of us in Ibadan are now rice bandits, we can hardly eat. We now live by begging in the morning, begging in the afternoon and begging in the evening.

God bless our Igbo brothers who we hate so much yet they give us out of their abundance, if not we the yoruba nation will die of famine.

Bola on your mandate!

Hoelujohn:
Them think say na play Jagaban come play. In 2 years time, na wheelbarrow una go dey use wheel money to buy bread.
We are even ready to increase minimum wage to 1million naira but trust me, it won't be enough to buy a bag of rice.

They don't know.

Adekunle Tinubu will show Agbadorians the real meaning of Bulaba.

Everything de fall for this country.

Just waiting for the day the whole country go fall enter gutter.

ogododo:



https://punchng.com/external-reserves-fall-by-841m-in-three-months/

All of this fake figures which Nigerian statistics and government keeps on submitting. The external reserve is only 3.6 billion US dollar. Keep deceiving yourself why the economy is collapsing nation of illiterate home and Abroad

Okay why not ?
When 28 states has zero involvement inflow

hand over to thieves

The decline in Nigeria's external reserves, as reported by the Central Bank of Nigeria, is a matter of concern and warrants attention. A decrease of $841.75 million between July and September is a significant drop, and it's essential to understand the factors contributing to this decline.

External reserves play a crucial role in a country's economic stability, as they serve as a buffer against external shocks and help maintain the stability of the foreign exchange market. The fact that external reserves have been on a downward trend in the first half of 2023, partly due to external debt finance and other challenges, should be carefully analyzed.

It's worth noting the observations made by Monetary Policy Committee , particularly regarding the weakness in accretion to external reserves and persistent foreign exchange demand pressures. These factors could have contributed to the decline in reserves.

The comment from former acting Governor of the CBN, Folashodun Shonubi, about the potential favorable effect of the removal of subsidies on price stability is interesting. Increased crude oil receipts by the government could indeed bolster reserves and help stabilize the exchange rate, which, in turn, can contribute to moderating inflation. However, it's crucial to monitor the actual impact of such policy changes closely.

In any case, the management of external reserves is a complex and delicate task, and it's essential for policymakers to continue to explore strategies to strengthen Nigeria's external reserves and ensure overall economic stability. Transparent communication with the public about the state of external reserves and the steps being taken to address challenges is also vital to build confidence in the country's economic management.


Check my signature for more details

Thiéfnubu and his forty-five thieves

What's really going on sef

Hoelujohn:
Them think say na play Jagaban come play. In 2 years time, na wheelbarrow una go dey use wheel money to buy bread.
We are even ready to increase minimum wage to 1million naira but trust me, it won't be enough to buy a bag of rice.

. TINUBU IS CASHING OUT BIG!!! ON COLOS!!
THAT'S THE REASON HE BOUGHT POWER FROM HYNEC IN THE FIRST PLACE.

Nigeria will be great again.

🌍 Unlock a World of Opportunities - Study Abroad! 🌍

Are you ready to embark on a life-changing adventure? 🎓✈️

Discover the world, expand your horizons, and gain a global perspective with our Study Abroad Program!

🌟 Why Choose Us? 🌟

🌎 Diverse Destinations: Choose from a range of exciting destinations worldwide.

📚 Academic Excellence: Study at renowned international universities.

🌐 Cultural Immersion: Immerse yourself in new cultures and traditions.

🤝 Global Connections: Build a network of friends and s from around the world.

🌞 Personal Growth: Develop independence, resilience, and adaptability.

Free study consultation……
Ready to take the first step? us today to learn more:

📞 Call us at: +2347026137398

📧 Email us: [email protected]

What about the external debt? Has that also fallen?

ogododo:

Na Mugabe style be dat.

Mugabe style go dey learn self.