Nigeria’s foreign reserves have received a significant boost, increasing by $5 million following the successful implementation of the National Gold Purchase Programme (NGPP).
The milestone was marked by President Bola Ahmed Tinubu’s reception of gold bars refined to the London Bullion Market Association (LBMA) Good Delivery Standard.
The gold, sourced from artisanal and small-scale miners, was refined by the Solid Minerals Development Fund under the Ministry of Solid Minerals. This marks the first commercial transaction of the NGPP, aimed at enhancing the country’s foreign reserves and strengthening the naira.
Solid Minerals minister, Dele Alake, shared the update on X, expressing pride in the progress made.
