Nigeria's Balance of Payments (BOP) swung to a surplus of $4.60 billion in the third quarter of 2025, reversing a deficit in the previous quarter, according to data released by the Central Bank of Nigeria (CBN).
The apex bank attributed the positive turnaround to a sustained current account surplus of $3.42 billion, bolstered by improved trade performance, strong diaspora remittances, increased financial inflows, and continued buildup of external reserves.
The goods account recorded a robust surplus of $4.94 billion, driven by higher export earnings. Crude oil exports climbed to $8.45 billion, while exports of refined petroleum products surged 44% to $2.29 billion — signaling growing domestic refining capacity and Nigeria's shift toward becoming a net exporter of refined products.
Total goods exports reached $15.24 billion, aided by a 12.7% decline in imports of refined petroleum products, resulting in a stronger overall trade balance.Workers' remittances remained resilient, contributing to a $5.50 billion surplus in the secondary income account, including $5.24 billion in diaspora inflows.
The financial account also supported the BOP improvement, with Nigeria recording a net lending position of $0.32 billion.
Foreign direct investment (FDI) inflows rose to $0.72 billion, while portfolio investments stayed strong at $2.51 billion, reflecting growing investor confidence and sustained non-resident participation in domestic markets.
External reserves grew significantly to $42.77 billion by the end of September 2025, up from $37.81 billion at the end of June, further bolstering the country's external buffers.
The CBN stated that the Q3 results highlight strengthening external sector fundamentals and renewed investor sentiment, driven by ongoing reforms in the foreign exchange market, effective monetary policy, and advancements in the domestic energy sector.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com