Nigeria’s foreign reserves gained $280m in two weeks, according to the latest data released by the Central Bank of Nigeria (CBN) on Sunday.
Gatekeepers News reports that the apex bank revealed that the reserves rose to $33.38bn on July 29 from $33.1bn on July 14.
The reserves, which had suffered some declines in recent months, dropped to $33.09bn as of July 12 from $33.28bn on July 1.
It lost $905.5m in June after it fell to $33.32bn at the end of June 30 from $34.23bn on May 31.
According to the CBN, the reserves stood at $34.88bn at the end of April 30.
Gatekeepers News reports that the CBN Governor, Godwin Emefiele, during the last Monetary Policy Committee meeting, said members further noted the contribution of poor infrastructure to rising domestic price levels.
He said they renewed their call to the Federal Government to prioritise investment in public infrastructures such as improved transportation networks, power supply and telecommunication facilities.
