Nigeria may find new economic strength as gold heads for $2000
Published 03 Aug,2020 via The Nation - Nigeria’s economic development may receive significant boost from gold mining as gold prices hit all-time highs, with about 30 per cent price gain so far this year.
As part of the economic diversification and reforms in the solid minerals sector, Nigeria had for the first time recently refined its own reserve gold bar and paid N268 million for a 12.5 kg bar to start a central bank stock.
Senior Research Analyst, FXTM, Mr. Lukman Otunuga, said the stratospheric gold prices and spiritless oil prices would seem to indicate that Nigeria’s investment in gold mining is a timely and positive one.
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Taofik Salako, Deputy Group Business Editor