Nigerian minister presents gold bar to Tinubu, says transaction will boost foreign reserves
The Minister of Solid Minerals Development, Dele Alake, on Sunday, announced that the first commercial transaction from Nigerian gold bars has resulted in a substantial increase of over $5 million in Nigeria’s foreign reserves assets.
Mr Alake disclosed this in a statement posted on his X handle on Sunday.
The minister explained that he recently presented the first batch of gold bars under the National Gold Purchase Program (NGPP) to President Bola Tinubu.
He noted that the gold bars were sourced from artisanal and small gold miners and refined by an agency of the Ministry of Solid Minerals Development Fund while noting that it injected around N6 billion into the rural economy.
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