December 30, (THEWILL) — Nigeria posted a robust turnaround in its external accounts during the third quarter of 2025, recording an overall Balance of Payments (BOP) surplus of $4.60 billion.
This performance, disclosed by the Central Bank of Nigeria (CBN) on Tuesday, December 30, 2025, marks a significant recovery from the $0.27 billion deficit recorded in the previous quarter and reflects strengthening external sector fundamentals.
The improvement was driven by a sustained current account surplus of $3.42 billion, underpinned by stronger trade performance, resilient remittance inflows, and increased financial flows.
The CBN reported that the goods account remained in surplus at $4.94 billion, boosted by higher export earnings. Crude oil exports reached $8.45 billion, while exports of refined petroleum products surged by 44% to $2.29 billion, signaling progress in Nigeria’s domestic refining capacity and its transition toward becoming a net exporter of refined fuels.
Workers’ remittances remained a critical pillar of the economy, with the secondary income account posting a surplus of $5.50 billion. This included $5.24 billion in inflows from Nigerians in the diaspora. Additionally, the financial account supported the overall BOP outcome by posting a net lending position of $0.32 billion, a dramatic shift from the net borrowing of $6.9 billion in Q2.
Foreign direct investment (FDI) inflows rose to $0.72 billion—the strongest quarter for FDI in 2025—while portfolio investment inflows stood at $2.51 billion.
Consequently, Nigeria’s external reserves increased to $42.77 billion at the end of September 2025, up from $37.81 billion at the end of June.
Acting Director of Corporate Communications, Hakama Sidi Ali, noted that total goods exports stood at $15.24 billion, while imports of refined petroleum products declined by 12.7%, further improving the trade balance.
The CBN attributed the Q3 2025 outcome to firmer investor confidence, resilient external sector fundamentals, and the continued impact of reforms in the foreign exchange market, monetary policy, and the domestic energy sector.
THEWILL reports that as of late December 2024, reserves have continued to climb, reaching $45.28 billion, providing the country with its strongest external buffer in over five years.
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