Nigeria’s foreign exchange reserves rose to $40.16 billion last week, boosted by higher forex inflows and a marginal increase in crude oil output.
Central Bank of Nigeria (CBN) figures show reserves climbed from $37.934 billion on April 30 to the current level.
Nigeria’s oil output rose by 0.67 per cent in July to 1.51 million barrels per day (mbpd), meeting OPEC+ quota but still below the 2025 benchmark target of 2.06 mbpd.