Nigeria recorded an overall balance of payments (BOP) surplus of $4.60 billion in the third quarter of 2025, reversing a deficit in the previous quarter, data released by the Central Bank of Nigeria (CBN) shows.
The data were contained in a statement signed by the Acting Director of Corporate Communications at the CBN, Hakama Ali.
Balance of payments (BOP) shows how much money comes into Nigeria and how much goes out through trade, remittances and investment. A surplus means the country earned more foreign currency than it spent, helping to boost reserves, support the naira and strengthen investor confidence.
The improvement was driven by a sustained current account surplus of $3.42 billion, supported by stronger trade performance, resilient remittance inflows, higher financial flows and continued accretion to external reserves, the CBN said.
The goods account remained in surplus at $4.94 billion, reflecting higher export earnings. Crude oil exports rose to $8.45 billion, while exports of refined petroleum products increased by 44 per cent to $2.29 billion, pointing to progress in domestic refining capacity.
Total goods exports stood at $15.24 billion, while imports of refined petroleum products fell by 12.7 per cent, improving the trade balance.
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Remittance inflows remained strong during the period. The secondary income account recorded a surplus of $5.50 billion, including $5.24 billion in remittances from Nigerians in the diaspora.
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 stood at $2.51 billion, reflecting improved investor sentiment and continued non-resident participation in domestic financial instruments.
Nigeria’s external reserves increased to $42.77 billion at end-September 2025, up from $37.81 billion at end-June, strengthening the country’s external buffers.
The CBN said the quarter outcome underscored strengthening external sector fundamentals, firmer investor confidence and the continued impact of reforms in the foreign exchange market, monetary policy implementation and the domestic energy sector.
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The surplus comes as Nigeria continues to adjust to wide-ranging foreign exchange reforms, including a more market-driven exchange rate regime and tighter monetary policy aimed at restoring investor confidence.
The expansion of domestic refining capacity, led by new and rehabilitated plants, has also reduced fuel import dependence, easing pressure on foreign exchange demand.
