Nigeria: Anxiety Mounts Over Depletion of External Reserves

Bakau, Gambia — Financial and economic consultant, Opeyemi Agbaje, at the weekend lamented the continuing depletion of Nigeria's external reserves pool, even in the face of high prices of crude in the international market, without related positive impact on the living conditions of Nigerians.

Worse still, according to him, is that the nation continues to swell its foreign and domestic debt, thereby becoming more exposed to economic travails of the 80s, which forced the country to adopt austerity measures with dire consequences for the citizenry.

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