By Muhammad Mamman
Daniel Bwala, a presidential spokesperson, has said Nigerians have reason to be optimistic under President Bola Tinubu’s administration, citing the country’s external reserves of about $46 billion as evidence of improving economic stability.
Bwala made the assertion while reacting to recent data from the Central Bank of Nigeria (CBN), which shows a steady rise in foreign reserves despite global economic headwinds and domestic reforms. According to him, the figures reflect renewed investor confidence and the effectiveness of the government’s fiscal and monetary policies.
He argued that the accumulation of reserves provides a stronger buffer for the economy, supports the naira, and enhances the country’s ability to meet external obligations. Bwala added that the reserves position also signals increased inflows from non-oil sources, improved remittances and tighter management of foreign exchange.
“The external reserves standing at about $46 billion show that the economy is on a recovery path. Nigerians ought to be happy because this gives the country stability and credibility in the global financial system,” he said.
Bwala acknowledged that many Nigerians are still grappling with the effects of inflation and rising living costs but insisted that the reforms being implemented are laying the foundation for sustainable growth. He urged citizens to exercise patience, noting that structural adjustments often take time before translating into tangible benefits for households.
He further stated that the Tinubu administration remains committed to policies aimed at boosting local production, attracting foreign direct investment and strengthening the financial sector.
Nigeria’s external reserves are managed by the CBN and are considered a key indicator of economic health, as they help the country finance imports, service foreign debt and stabilise the local currency.
