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Nigeria’s foreign currency reserves or external reserves, peaked to $25.04 billion, as at Thursday last week, for the first time in three months.
Checks on the details of the reserves’ movements, showed that the reserves crossed the $25 billion mark on Tuesday, December 13, and continued to appreciate until Thursday last week.
The last time the reserves reached the $25 billion mark, was on 9th, September 2016.
The external reserves suffered a set back since 2014, when the price of crude oil began to depreciate in the international market, coupled with the huge election expenses.
Some foreign portfolio investors, also suspended their investments into the capital market, due to the uncertainty that surrounded the 2015 general elections in the country.
However, in June 2014, before the oil price decline, the reserves were as high as $37.3 billion.

Experts attribute the frequent drop of the value to the naira to the decline in the foreign currency reserves.
Meanwhile, President Muhammadu Buhari, will on Wednesday, December 21, launch a N10 billion Agriculture Environmental Impact Fund, to support women farmers, in order to increase access to food production.
These include women whose farmlands were affected by environmental degradation, and terrorism.
A statement yesterday in Abuja, by the Dean, Agric Faculty, University of Abuja, Professor A.A. Adeniyi, said the event by the Women Association for National Agriculture Environment Impact Fund, WAEIF, would focus on food increase, to reduce the impact of the recession.
He explained, that pollution of the environment led to importation of genetics modified organism food, which often causes cancer.
“The WAEIF launch of N10 billion Agriculture Environmental Impact Fund, will serve as alternative funding option for women who could not have access to land, collateral for bank loan, especially women from the North-East, that have been displaced due to terrorism, and cultural factors,” he added.

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