BY NKECHI NAECHE-ESEZOBOR—Central Bank of Nigeria (CBN), has said Nigeria has recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025.
The apex bank disclosed this in a statement issued by its Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, attributing the improved performance to a sustained current account surplus of $3.42 billion, supported by stronger trade performance, resilient remittance inflows, increased financial flows, and continued accretion to external reserves.
The statement shows that goods account remained 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.
This development, the CBN noted, points to ongoing improvements in domestic refining capacity and Nigeria’s gradual shift from being 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 declined by 12.7 per cent, resulting in a stronger trade balance.
Remittance inflows also remained robust, with the secondary income account posting a surplus of $5.50 billion. Of this amount, remittances from Nigerians in the diaspora accounted for $5.24 billion.
The financial account further reinforced the positive BOP position, as Nigeria recorded a net lending balance of $0.32 billion. Foreign direct investment inflows increased to $0.72 billion, while portfolio investment inflows remained strong at $2.51 billion, reflecting improved investor confidence and sustained participation by non-resident investors in domestic financial markets.
Nigeria’s external reserves rose significantly to $42.77 billion at the end of September 2025, compared with $37.81 billion at the end of June, strengthening the country’s external buffers.
According to the CBN, the Q3 2025 BOP outcome highlights improving external sector fundamentals, firmer investor sentiment, and the positive effects of ongoing reforms in the foreign exchange market, monetary policy framework, and domestic energy sector.
