Oil prices and FX reserves, Nigeria Weekly Update June 7 2021,

 

Good Morning, 

Our Nigeria Weekly Update shared yesterday had an old link dated May 17th 2021.

The link has been updated and we apologize for any inconveniences caused. 

Do have a good day. 

Thank you 

Oil prices and FX reserves

One can almost hear the sigh of relief coming from Abuja.  Oil prices are up and the immediate threat to the nation’s foreign exchange reserves has receded. Markets (long-dated bonds and equities) have responded positively. However, inflation is still far above risk-free rates and the unofficial exchange rate is slipping. The game is not yet won. See page 2 for details.