NewStats: 3,263,759 , 8,181,308 topics. Date: Saturday, 07 June 2025 at 07:00 PM 2z6g4p

Nigeria's foreign reserves have suffered a significant drop, dropping by $1.19 billion in just three weeks under President Bola Tinubu's istration.

This was disclosed in data obtained from the Central Bank of Nigeria (CBN), stating that the external reserves dropped to $39.723 billion as of January 31st 2025, from $40.877 billion at the end of December 2024.

The development comes as the Bismarck Rewane-led Financial Derivatives Company, FDC, in its 2025-2026 outlook, expects Nigeria’s gross external reserves to drop by 11.47 per cent in 2025 to $36.21 billion and 2026 at $37.65 billion from a high of $40.9 billion in 2024.

The FDC analysts also expect that the Dollar/Naira exchange rate will average N1,586 in 2025 and N1,575 in 2026, as opposed to the average exchange rate of N1,615 in 2024.

This recent drop in the country’s foreign reserves may be attributed to various factors, including international debt servicing obligations and the CBN's foreign exchange interventions.


For instance, SaharaReporters reported how President Bola Tinubu’s istration spent N3.5 trillion on debt servicing between July and September 2024.

This was contained in data released by the Debt Management Office, and reviewed by SaharaReporters. The data also indicated that $1.338 billion was allocated to external debt servicing during the same period.

The government, in the DMO data announcing the country's total public debt, noted that the exchange rate as of September 2024 stood at ₦1601 per dollar. This implies that a total of ₦2.1 trillion ($1.338 billion multiplied by ₦1601) was spent on external debt servicing between July and September.

The country took loans externally from sources such as the African Development Bank, the Africa Growing Together Fund, the International Fund for Agricultural Development, Islamic Development Fund among others.

https://saharareporters.com/2025/02/05/nigerias-foreign-reserves-drop-119billion-three-weeks-under-tinubu-government

How long should it have taken?

Tinubu is beating Buhari in record of who will wreck the country faster.

Iwaeda so when will you find good news of 9ja to share with us prophet of doom.

One needs to have an optimistic outlook on life in order not to fall into a depressed state so I am worried about you.

iwaeda:
This was disclosed in data obtained from the Central Bank of Nigeria (CBN), stating that the external reserves dropped to $39.723 billion as of January 31st 2025, from $40.877 billion at the end of December 2024.

Nigeria's foreign reserves have suffered a significant drop, dropping by $1.19 billion in just three weeks under President Bola Tinubu's istration.

This was disclosed in data obtained from the Central Bank of Nigeria (CBN), stating that the external reserves dropped to $39.723 billion as of January 31st 2025, from $40.877 billion at the end of December 2024.


The development comes as the Bismarck Rewane-led Financial Derivatives Company, FDC, in its 2025-2026 outlook, expects Nigeria’s gross external reserves to drop by 11.47 per cent in 2025 to $36.21 billion and 2026 at $37.65 billion from a high of $40.9 billion in 2024.

The FDC analysts also expect that the Dollar/Naira exchange rate will average N1,586 in 2025 and N1,575 in 2026, as opposed to the average exchange rate of N1,615 in 2024.

This recent drop in the country’s foreign reserves may be attributed to various factors, including international debt servicing obligations and the CBN's foreign exchange interventions.


For instance, SaharaReporters reported how President Bola Tinubu’s istration spent N3.5 trillion on debt servicing between July and September 2024.

This was contained in data released by the Debt Management Office, and reviewed by SaharaReporters. The data also indicated that $1.338 billion was allocated to external debt servicing during the same period.

The government, in the DMO data announcing the country's total public debt, noted that the exchange rate as of September 2024 stood at ₦1601 per dollar. This implies that a total of ₦2.1 trillion ($1.338 billion multiplied by ₦1601) was spent on external debt servicing between July and September.

The country took loans externally from sources such as the African Development Bank, the Africa Growing Together Fund, the International Fund for Agricultural Development, Islamic Development Fund among others.

https://saharareporters.com/2025/02/05/nigerias-foreign-reserves-drop-119billion-three-weeks-under-tinubu-government

It’s not under Tinubu, it is over Tinubu. You go just kee yourself over nothing. JAGABAN no send una Mama. He will rule this country the way he likes, but he has it at the back of his mind that he will give to his creator, GOD. So the god of Politics and Strategy does not care what idiots and nincompoops who do not understand basic Micro and Macro Economics say from their gutter mouths after senseless thoughts from their empty brains.

Golan007:
How long should it have taken?

You dey mind the Oloriburuku people ni?

gabbytabby:
Iwaeda so when will you find good news of 9ja to share with us prophet of doom.

One needs to have an optimistic outlook on life in order not to fall into a depressed state so I am worried about you.

The devil didn't do this one, following me up and down. My joy is to see Nigeria working.

Mahenson:
Tinubu is beating Buhari in record of who will wreck the country faster.

He is beating Buhari and all past leaders in every aspect of leadership. So you can cry well well

Sahara reporters only have this kind of news, when the reserve was going up, they didn't say anything

simpleseyi:


You dey mind the Oloriburuku people ni?

You are cursing, thinking you are superior to people who are complaining. If God has given you opportunity to be abroad, rather than cursing people that want a better Nigeria, you will be cursing your leaders who are stealing you blind and giving you palliatives. ing a party doesn't mean, you become blind to truth, seyi.

Golan007:
How long should it have taken?

Lol, Opposition in this country are just too slow.

simpleseyi:


He is beating Buhari and all past leaders in every aspect of leadership. So you can cry well well

Pls give me answers to the following indices during Buhari and Tinubu. I dont even want to use Jonathan's regime.

Price of Rice
Price of Cement
Naira to dollar
No of Unemployed Nigerians
Price of Cement
A bag of Rice
A bag of beans
Cost of Flight from.Lagos to Abuja.

Answer the following question and u qill see the disaster Tinubu is. As incompetent as Buhari was, he has outclassed your master strategist in leadership.

He build lagos, he divided the red sea.



But e reach to build Nigeria cement finish

They're defending Naira.
Voodoo monetary policy.

Okay, I brought this issue up sometime last week and got serious backlash from his ers.

I believe they are defending the Naira to prepare for the potential shock coming. This is honestly not a bad idea.

My problem with the Agbado media crew is their dishonesty in trying to hide it.

When e dey rise ..Una report am

He did it in Lagos
He tamed the Atlantic Ocean
He worked at Mobile

Na statistics we go chop!

Where are the savings from petrol and electricity subsidy removal?

Lamidi Amoda Sangodele is the master strategist of corruption. He did it in Lagos

On your mandate we shall stand

Is that how CBN CAPTIONED IT? But you didn't scream when it was reported that the reserve went up under same Tinubu!

Only Yorubas defend Tinubu

adioolayi:
When e dey rise ..Una report am

simpleseyi:
It’s not under Tinubu, it is over Tinubu. You go just kee yourself over nothing. JAGABAN no send una Mama. He will rule this country the way he likes, but he has it at the back of his mind that he will give to his creator, GOD. So the god of Politics and Strategy does not care what idiots and nincompoops who do not understand basic Micro and Macro Economics is say from their gutter mouths after senseless thoughts from their empty brains.

As a slave, anyone can be your god. Tinubu manages to pay you 30k subscription fee. When your minions didn’t use this narrative on GEJ. Today, your ilks are singing whatever song for Tinubu to rule the way he likes, men like you cannot make it in life, because you don’t stand for anything. You are a slave today, tomorrow you will still be slave. Shame on you, and sure thing your kids will know how unfortunate a man you were! Tufiakwa.

Is anybody in Nigeria really expecting positive news from the frog eyed klepto?

Only a fool will leave yam and goat together and hope to meet the yam at daybreak -
----Pete Edochie

Is this all you can say?

gabbytabby:
Iwaeda so when will you find good news of 9ja to share with us prophet of doom.

One needs to have an optimistic outlook on life in order not to fall into a depressed state so I am worried about you.

Seyi needs campaign funds for his Guber aspiration na

iwaeda U dey reason like person we no get bank .

Omokri said it all when he was still in his senses.

Congratulations to him and his senseless miscreants

What a feat

Egbola Tulumbu is the most useless president in the whole wide world

He came to power to kill, do drugs and steal that's all

So what should we do about it?