Nigeria Posts 6.83bn Balance Of Payments Surplus In 2024 Cbn

The Central Bank ofNigeria CBN has announced a Balance of Payments BOP surplus of 6.83 billion for the 2024 financial year, marking a decisive turnaround from deficits of 3.34 billion in 2023 and 3.32 billion in 2022.

The CBN made the announcement in a statement signed by the Ag. Director, Corporate Communications, Sidi-Ali, Hakama.

According to the apex bank, This improvement reflects the impact of wide-ranging macroeconomic reforms, stronger trade performance, and renewed investor confidence in Nigerias economy. Stronger Trade and External Account Performance

The current and capital account recorded a surplus of 17.22 billion in 2024, underpinned by a goods trade surplus of 13.17 billion. Petroleum imports declined by 23.2 to 14.06 billion, while non-oil imports fell by 12.6 to 25.74 billion.