Nigeria's Reserves Soar to 17-Year High as Dangote Hikes Fuel Prices Again

Nigeria's foreign reserves crossed $53.11 billion as of August 24, hitting their highest level since January 2009 — a 17-year milestone that signals a significant strengthening of the country's external buffer.

Money Moves

• Foreign Reserves Surge — Reserves grew by $3.15 billion since early June, driven by higher crude oil prices boosting dollar earnings from exports, according to CBN data.
• Dangote Refinery Raises Prices Twice in a Week — The...