Despite falling into great recession, Nigeria recorded an impressive growth in foreign reserves to close the year 2017.
The country’s external reserves stood at $38.7 billion as at Thursday, December 28, 2017, when the Central Bank of Nigeria, CBN, , last updated it on its website.
The apex bank had planned to grow the nation’s reserves to $40 billion by December 31, 2017, but this may no longer be possible.
According to the apex bank, as at December 22, 2017, the foreign reserves stood at $37.9 billion after being at $37.8 billion a day earlier.
The reserves had opened 2017 at $26.1 billion, closing now at $38.7 billion, showing a growth of 48.3 percent this year, Business Post reports.
Analysts have projected a positive growth for Nigeria in 2018, a year before Nigerians head to the polls to elect their President. It is not certain of they will like to retain President Muhammadu Buhari as their leader or get a new one.
