Nigeria Posts $4.6bn Balance of Payments Surplus in Q3 2025 – CBN

By Oluwakemi Kindness

The Central Bank of Nigeria (CBN) says Nigeria recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025, a turnaround from the deficit recorded in the previous quarter.

According to the CBN in a satement on Tuesday night, the improvement was driven by a current account surplus of $3.42 billion.

The statement by the Acting Director, Cooprate Communication, CBN, Hakama Sidi-Ali, says this underpinned by stronger trade performance, resilient remittance inflows, increased financial flows, and continued accretion to external reserves.

“The goods account remained in surplus at $4.94 billion, reflecting higher export earnings during the period,” the CBN said.

Crude oil exports rose to $8.45 billion, while exports of refined petroleum products increased by 44 percent to $2.29 billion, highlighting progress in domestic refining capacity and Nigeria’s transition from a net importer to a net exporter of refined products.

The report also noted that total goods exports stood at $15.24 billion, while imports of refined petroleum products declined by 12.7 percent, contributing to an improved trade balance.

Workers’ remittances remained strong, with the secondary income account recording a $5.50 billion surplus, including $5.24 billion in inflows from Nigerians in the diaspora, the CBN said.

Developments in the financial account further supported the overall BOP outcome, with Nigeria posting a net lending position of $0.32 billion.

Foreign direct investment inflows rose to $0.72 billion, while portfolio investment inflows remained robust at $2.51 billion, reflecting improved investor sentiment and continued non-resident participation in domestic financial instruments.

The country’s external reserves increased to $42.77 billion at the end of September 2025, up from $37.81 billion at end-June, strengthening Nigeria’s external buffers.

According to the CBN, “The Q3 2025 BOP outcome underscores 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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