Nigeria's National Gold Purchase Program completes first commercial transaction, boosting foreign reserves by $5M and rural economy by NGN6B.
Nigeria's National Gold Purchase Program (NGPP) successfully completed its first commercial transaction, increasing foreign reserves by $5M, refining 70+ kilograms of gold to London Bullion Market standards, and injecting NGN6B into the rural economy. The program, supported by a decentralized aggregation and production network of artisanal and small-scale miners and cooperatives, aligns with President Bola Ahmed Tinubu's economic diversification efforts.
June 23, 2024
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