The Central Bank of Nigeria, CBN, yesterday, said
Nigeria’s external reserves stood at 48.76 billion dollars (N75.57 trillion) as
at April 16. The apex bank disclosed this on its website.
According to the CBN, the figure represented an
increase of 2.54 per cent over the last figure of 48.75 billion dollars (N75.56
trillion).
It would be recalled that minister of Finance and
Coordinating Minister for the Economy, Ngozi Okonjo-Iweala had in July 2012,
stressed the need for Nigeria to shore up its external reserves.
Okonjo-Iweala had said there was need to build up
the reserves to 50 billion dollars (N77.50 trillion) before the end of 2013.
She said the reserves needed to be strong enough to
help the country in the event of any global economic recession.
E-BIZ 24/7 recalls that Nigeria’s external reserves was
44.18 billion (N68.47 trillion) in December of 2012. It grew to 44.34 billion
(N68.72 trillion) in January of 2013, representing an increase of 2.82 per
cent.
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