- Nigeria’s BOP Swings to $4.60bn Surplus on Strong Exports, Remittances
- Nigeria’s external reserves increased to $42.77 billion at the end of September 2025
- Data showed that the goods account remained firmly in surplus at $4.94 billion
Nigeria recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025, marking a sharp reversal from the deficit posted in the previous quarter, according to data released by the Central Bank of Nigeria (CBN).
Eko Hot Blog reports that the CBN attributed the improvement to a sustained current account surplus of $3.42 billion, driven by stronger trade performance, resilient diaspora remittances, increased financial inflows, and continued growth in external reserves.
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Data showed that the goods account remained firmly in surplus at $4.94 billion, reflecting higher export earnings during the period. Crude oil exports rose to $8.45 billion, while exports of refined petroleum products jumped by 44 per cent to $2.29 billion.
The increase points to gains in domestic refining capacity and Nigeria’s gradual transition from a net importer to a net exporter of refined petroleum products.
Overall goods exports stood at $15.24 billion, while imports of refined petroleum products fell by 12.7 per cent, further strengthening the country’s trade balance.
Diaspora remittances also remained strong, with the secondary income account recording a surplus of $5.50 billion. Of this amount, $5.24 billion came from remittance inflows by Nigerians living abroad.
On the financial account, Nigeria posted a net lending position of $0.32 billion. Foreign direct investment inflows rose to $0.72 billion, while portfolio investment inflows remained robust at $2.51 billion, reflecting improved investor confidence and sustained foreign participation in domestic financial instruments.
Nigeria’s external reserves increased to $42.77 billion at the end of September 2025, compared with $37.81 billion recorded at the end of June, providing stronger buffers against external shocks.
The CBN said the Q3 2025 BOP performance underscores improving external sector fundamentals, firmer investor confidence, and the positive impact of ongoing reforms in the foreign exchange market, monetary policy framework, and the domestic energy sector.
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