Latest data from the CBN shows that Nigeria’s external reserves fell significantly in August 2018. As at the end of July, the reserve stood at $47.11 billion; it dropped to $45.83 billion by August 23– losing as much as $1.23 billion in the month. The CBN’s continuous intervention along with affected foreign investment premised around political uncertainties, may have triggered the decline in reserves. Policy actions that relay a message of future political stability and conducive business environment amid politicking for 2019 elections is critical to sustaining short-medium term investment flows.
Macroeconomic Report & Economic Updates
September 10, 2018
Nigeria Economic Update (Issue 35)
Latest data from the CBN shows that Nigeria’s external reserves fell significantly in August 2018. As at the end of July, the reserve stood at $47.11 billion; it dropped to $45.83 billion by August 23– losing as much as $1.23 billion in the month. The CBN’s continuous intervention along with affected foreign investment premised around […]
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