Nigeria’s foreign exchange reserves stood at $41.8 billion as of Feb. 21, up 4.15 percent from a month earlier, Central Bank data showed on Wednesday.
Successful debt sales, including multiple Eurobond offerings this month, have helped the government accrue billions of dollars in foreign reserves, although they remain far from the peak of $64 billion in August 2008.
According to Reuter’s news agency, the government raised $2.5 billion in Eurobonds in February and expects more to follow.
Nigeria’s forex buffer has climbed nearly 50 percent since last February when it stood at $29.3 billion.
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