FG REAFFIRMS COMMITMENT TO OPERATIONALIZE SOKOTO HAJJ AIRPORT AHEAD OF 2026 PILGRIMAGE. (PHOTO).

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 FG Reaffirms Commitment To Operationalize Sokoto Hajj Airport Ahead Of 2026 Pilgrimage The Federal Ministry of Aviation and Aerospace Development announced that the Sokoto State Hajj Airport is set to become operational ahead of the 2026 Hajj pilgrimage. The Minister of Aviation and Eerospace Festus Keyamo reaffirmed this commitment during a meeting with Sokoto State Governor Dr. Ahmed Aliyu. Keyamo highlighted Sokoto's importance for Hajj operations and assured that relevant agencies are working to meet necessary infrastructure and operational requirements. He directed officials to identify and address potential bottlenecks. Governor Aliyu says the airport project is 90% completed and funded by the state government with five aircraft being acquired. He appealed for expedited approvals to operationalize the airport for the 2026 Hajj. The Ministry remains committed to enhancing aviation infrastructure under President Bola Ahmed Tinubu's Renewed Hope Agenda. One more photo below...
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NIGERIA'S FOREIGN RESERVES DECREASE TO $24BN RECORD LOW IN 2024- IMF. (PHOTO).

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 Nigeria’s foreign reserves decrease to $24bn record low in 2024 – IMF


International Monetary Fund says Nigeria’s foreign reserves dropped to a record low of $24 billion in 2024 from $33 billion last year.


IMF’s latest country report for Nigeria disclosed this, signalling potential challenges for Africa’s largest economy.


It noted that the first half of 2023 witnessed a surplus in the current account, yet there was a notable decline in reserves.


“Through 2024–25, the financial account will likely deteriorate, with no projected issuance of Eurobonds, large Fund and Eurobond repayments of $3.5 billion, and portfolio outflows.


“Hence, despite a current account surplus, officially reported reserves are projected to decline to $24 billion in 2024 before increasing again to $38 billion in 2028 as portfolio inflows resume,” the report stated.


But Central Bank of Nigeria data showed Nigeria’s foreign reserves stood at $33.12 billion as of February 8, 2024.

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