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Oil prices rise yet Nigeria’s external reserves down

Brent crude prices above $60 per barrel mean strong Foreign Exchange (FX) reserves. As of 6.15 pm on Tuesday, Brent crude (ICE) stood at $71.89 per barrel. But the rise in the price of crude oil has not reflected in accretion in FX reserves, as Nigeria’s external reserves have declined by 3.16 percent to $34.104…

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