LAGOS JANUARY 16TH (NEWSRANGERS)-Nigeria’s foreign reserves have taken a significant hit, dropping by $359.91 million in just one week to settle at $40.56 billion as of January 13, 2025. This sharp decline follows a brief high of $40.91 billion recorded on January 7, 2025, according to the latest figures from the Central Bank of Nigeria…
LAGOS FEBRUARY 7TH (NEWSRANGERS)-The Central Bank of Nigeria (CBN) has blamed the freefall of the naira on the huge sum of $39.6bn spent by Nigerians on foreign education and medical tourism in 10 years spanning 2010 to 2020. Giving a breakdown, the apex bank disclosed that the sum of $28.6bn was spent on foreign education…
LAGOS MARCH 14TH (NEWSRANGERS)-Oil prices extended last week’s decline to fall by about $4 a barrel during early trade on Monday after a U.S. official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine. Brent crude futures was last down by $4.12 or 3.6% at $108.55 a barrel at…
LAGOS JUNE 22ND (NEWRANGERS)-Nigeria’s economy could be leaning against the wind as the country’s external reserves fell to a 13-month low last week, tumbling quickly to $30 billion, the level it was between 2015 and 2017. Last Thursday, the figure slid to $33.79 billion, as it dropped by $30 million. This represented a 0.09% decline…
LAGOS MAY 18TH (NEWSRANGERS)-Nigeria’s inflation rate reduced by 0.05 per cent in April compared to what obtained in March, the National Bureau of Statistics said in a report Monday. The bureau said while inflation rate stood at 18.17 per cent in March, it reduced to 18.12 per cent in April. It is the first fall…
LAGOS SEPTEMBER 10TH(NEWSRANGERS)-There are concerns over the steady decline of Nigeria’s foreign reserves since the last three months despite the rise in oil prices and accruals from foreign bonds issuance. Exclusive findings by LEADERSHIP Sunday showed that the reserves recorded a huge decline from $47,787,183,153 billion where it was on June 22, 2018 to a…