Nigeria recorded a current account surplus of $3.42 billion in the third quarter of 2025, marking a sharp 41.14% decline from the $5.81 billion surplus posted in the previous quarter.
Okay News reports that data from the Central Bank of Nigeria (CBN)’s latest Balance of Payments highlights show the Q3 figure is also lower than the $5.78 billion surplus achieved in the corresponding period of 2024.
The surplus persisted primarily due to strengthened export earnings, with total exports rising to $15.24 billion from $14.90 billion in Q2 2025.
Crude oil exports increased 10.31% to $8.45 billion, while refined petroleum product exports surged 44.03% to $2.29 billion, reflecting progress in domestic refining capacity.
However, gas exports dropped 30.21% to $2.31 billion, and non-oil exports declined to $2.19 billion.
Total imports climbed to $10.30 billion, though refined petroleum imports fell 12.70% to $1.65 billion, underscoring Nigeria’s shift toward net exporter status in refined products.
The goods account maintained a surplus of $4.94 billion, supported by robust oil and refined product performance.
Diaspora remittances remained resilient at $5.50 billion in secondary income, nearly matching the $5.51 billion from Q2.
Outflows widened on services to a net debit of $4.07 billion and on primary income to $2.95 billion, driven by higher repatriation of earnings by domestic banks.
The financial account swung to a net lending position of $0.32 billion, with external reserves rising to $42.77 billion by end-September.
