Nigeria recorded a current account surplus of $5.28 billion in the second quarter (Q2) of 2025, up from $2.85 billion in the first quarter, according to data released by the Central Bank of Nigeria (CBN) in its Monetary Policy Communiqué No. 159.
The increase reflects stronger foreign exchange inflows supported by higher crude oil production, stable exchange rates and improved capital inflows.
The oil sector expanded by 20.46 percent in Q2 2025, compared to 1.87 percent growth in the previous quarter, contributing significantly to the surplus.
The surplus also benefited from sustained disinflation and improved macroeconomic stability, which anchored investor confidence and boosted external reserves.
Gross reserves stood at $43.05 billion as of September 11, 2025, representing an import cover of 8.28 months, compared with $40.51 billion at the end of July 2025.
The Central Bank noted that the surplus, coupled with the robust reserve position, provides a buffer for exchange rate stability and strengthens Nigeria’s external sector outlook.
The Committee emphasized the importance of maintaining this momentum by supporting policies that encourage foreign inflows, enhance oil output, and sustain improvements in food production to moderate inflationary pressures.
The current account surplus highlights the resilience of Nigeria’s external position despite global uncertainties, and the Monetary Policy Committee reaffirmed its commitment to proactive, data-driven responses to safeguard price and financial stability.