Nigeria posted an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025, reversing the deficit recorded in the preceding quarter, according to data released by the Central Bank of Nigeria (CBN).
The improvement was driven by a current account surplus of $3.42 billion, supported by stronger trade performance, resilient diaspora remittances, increased financial inflows and continued growth in external reserves.
The 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 increased by 44 per cent to $2.29 billion, signalling progress in domestic refining capacity and Nigeria’s gradual transition toward becoming a net exporter of refined petroleum products.
Total goods exports stood at $15.24 billion, while imports of refined petroleum products declined by 12.7 per cent, further strengthening the country’s trade balance.Workers’ remittances also remained strong, with the secondary income account recording a surplus of $5.50 billion, including $5.24 billion in inflows from Nigerians in the diaspora.
Developments in the financial account further supported the BOP position, with Nigeria recording a net lending position of $0.32 billion. Foreign direct investment inflows rose to $0.72 billion, while portfolio investment inflows stood at $2.51 billion, reflecting improved investor sentiment and sustained foreign participation in domestic financial markets.
Nigeria’s external reserves increased to $42.77 billion at the end of September 2025, up from $37.81 billion at the end of June, strengthening the country’s external buffers.
The CBN said the Q3 2025 BOP outcome underscores improving external sector fundamentals, stronger investor confidence and the positive impact of reforms in the foreign exchange market, monetary policy implementation and the domestic energy sector.
