In break with tradition, Nigeria’s external reserves fall as oil prices rise

Oil prices advance despite concern over more US tariffs

The rally in oil prices is not translating to more dollars in Nigeria's reserves for only the fifth time in at least two decades, as a growing petrol subsidy bill and low oil production shut Africa’s largest oil producer from the gains of higher oil prices. Nigeria’s gross official reserves s

```

Members Only

Login or create an account to continue

This article is available to registered BusinessDay readers. Please login if you already have an account, or create a new account to continue reading.

New to BusinessDay? Register now and start reading.

```