Fitch predicts $6.63 surge in Nigeria’s external reserves in 2021

Nigeria’s external reserves

Fitch predicts $6.63 surge in Nigeria’s external reserves in 2021   Fitch Ratings has predicted that Nigeria’s external reserves would surge by $6.63 billion to hit $42 billion in 2021, higher than the $35.374 billion it stood at the end of 2020. This is according to figures obtained from the website of the Central Bank of Nigeria (CBN). In a report titled, “Depreciatory Pressures on Key Sub-Saharan African Currencies to Lessen,” the global credit rating agency hinged the forecast on its expectation that Brent crude would average $53 per barrel,…

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