The economy of a country does not depend only on its internal generated revenue but also the amount it has gotten abroad.
How much does Nigeria actually have in its foreign reserve? A question many patriotic citizens would want to have an answer to.
It is difficult to state with certainty the real value the country has in its foreign reserve. This is due to the fact that it fluctuate every month. But since last year, it has been following a sinusoidal pattern between 25 to 40 billion dollars which is very bad as compared to what we have in past.
According to a Nigerian senator- The Senator representing Kaduna Central district on the platform of All Progressive Congress. He said “We are living in our moment of truths and a day of reckoning. In the last three to four years, Nigeria has over 80 billion dollars in its foreign reserve and it has gone down to 27 billion dollars”.
Why is Nigeria-The giant of Africa, which had the biggest economy, now facing its worst economic crisis? Critics have stated many reasons for the fall of the foreign reserve and most have blamed it on the presidency.
In a measure to boost back the situation, the central bank with the support of the president, has adopted increasingly stringent foreign exchange rules. We hope it all work out well. May Nigeria rise back.
Question: How Much Does Nigeria Have in Foreign Reserve?
Answer: See article above.