PRESIDENT TINUBU: WE WILL CONTINUE TO SUSTAIN BUHARI'S LEGACIES.(PHOTOS).#PRESS RELEASE..

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 STAEHOUSE PRESS RELEASE   PRESIDENT TINUBU: WE WILL CONTINUE TO SUSTAIN BUHARI'S LEGACIES.   President Bola Ahmed Tinubu, on Monday in Abuja, stated that his administration will continue to honour former President Muhammadu Buhari by sustaining his legacies of purposeful leadership, discipline, integrity, and the belief that public office is a trust, not a windfall.   President Tinubu made this commitment at the State House Conference Centre during the unveiling and public presentation of the book, *From Soldier to Statesman – The Legacy of Muhammadu Buhari*, authored by Dr Charles Omole.   He said the book offers Nigerians the opportunity to learn from President Buhari, and affirmed that the greatest honour to bestow on the late President is to sustain his legacies.   "This book reinforces the public memory. It outlines achievements and flaws, as all honest histories should. It should motivate future leaders to learn lessons rather than repeat slogans. ...
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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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