Nigeria recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025, reversing the deficit recorded in the previous quarter, according to figures released by the Central Bank of Nigeria (CBN).
The apex bank attributed the positive outcome to a sustained current account surplus of $3.42 billion, driven by stronger trade performance, steady diaspora remittances, increased financial inflows and continued growth in the country’s external reserves.
In its report, the CBN said the goods account remained firmly in surplus at $4.94 billion, reflecting improved export earnings during the period.
“Crude oil exports rose to $8.45 billion, while exports of refined petroleum products increased by 44 per cent to $2.29 billion,” the bank stated.
“This indicates further progress in domestic refining capacity and Nigeria’s gradual transition from a net importer to a net exporter of refined petroleum products.
“Total goods exports stood at $15.24 billion, while imports of refined petroleum products declined by 12.7 per cent, resulting in an improved trade balance.
“Workers’ remittances also remained strong, with the secondary income account recording a surplus of $5.50 billion, including $5.24 billion in remittance inflows from Nigerians in the diaspora,” it added.
The CBN noted that developments in the financial account also bolstered the overall BOP position, with Nigeria recording a net lending position of $0.32 billion during the quarter.
It disclosed that foreign direct investment inflows rose to $0.72 billion, while portfolio investment inflows remained strong at $2.51 billion, a trend the bank linked to improved investor confidence and sustained participation of non-residents in domestic financial markets.
“The country’s external reserves increased to $42.77 billion at end-September 2025, up from $37.81 billion at end-June, thereby strengthening Nigeria’s external buffers,” the CBN said.
According to the bank, the Q3 2025 BOP performance reflects improving external sector fundamentals and growing investor confidence.
“It also underscores the continued impact of reforms in the foreign exchange market, monetary policy implementation, and the domestic energy sector,” it added.
