Abuja, Nigeria – Nigeria’s Balance of Payments surplus dropped to $4.23 billion in 2025 from $6.83 billion in 2024, as the Central Bank of Nigeria reported mixed results across current account, financial flows, and income balances, reflecting stronger goods trade amid rising service deficits and external pressures in West Africa’s largest economy.
Okay News reports the Central Bank of Nigeria’s key provisional figures, noting a current account surplus of $14.04 billion down from $19.03 billion the prior year, goods account surplus climbing to $14.51 billion from $13.17 billion with Dangote Refinery’s refined petroleum exports hitting $5.85 billion despite crude oil falling 14.41 percent to $31.54 billion, non-oil imports up 13.60 percent to $29.24 billion, services deficit widening to $14.58 billion, primary income deficit surging 60.88 percent to $9.09 billion, portfolio inflows dropping 48.3 percent to $8.04 billion while direct investment rose 14.1 percent to $4.01 billion, and external reserves growing 13.83 percent to $45.75 billion by year-end.
The net errors and omissions deepened to negative $15.73 billion from negative $9.38 billion, signaling reporting gaps in external transactions, as refined fuel gains offset crude declines and Dangote’s output diversifies earnings beyond raw oil in line with reforms boosting domestic refining capacity.
Financial account pressures stemmed from investor caution amid global shifts, though trade resilience supported reserves buildup, contrasting Q3 2025’s $3.42 billion current account surplus that fell 41 percent from Q2, highlighting volatility despite oil sector strength.
Nigeria navigates exchange reforms and diversification pushes, with gas and refined exports cushioning import rises, positioning the economy for stability if capital flows rebound and statistical gaps close through better tracking.
