Economy

Nigeria’s foreign reserve hits $38.2b

The Central Bank of Nigeria (CBN) has revealed that Nigeria’s foreign reserve, for the first time in nearly three years, reached $38.2 billion.

This was disclosed by the Governor of the CBN, Godwin Emefiele.

Emefiele  made this known at the commissioning of the Blueband margarine production line in Agbara, Ogun state.

The foreign reserve, which stood at $40 billion in October 2014, went down to $23 billion in January 2016, following a crash in commodity prices at the international market.

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