Nigeria’s current account surplus rises 46% to $4.98bn

Vanguard NigeriaIndependentCenter4 days ago

The Central Bank of Nigeria (CBN) reported that the country's current account surplus increased by 46% year-on-year to $4.98 billion in the first quarter of 2026. This represents a significant increase from $1.4 billion in the previous quarter and $3.41 billion in the same period of 2025. The improvement is attributed to higher export earnings, particularly in the oil sector, and reduced import expenditures. Crude oil exports rose by 19.79%, gas exports increased by 12.95%, and exports of refined petroleum products grew by 20.3%. Import spending on refined petroleum products dropped by 87.5%,,

Bias read (Center): The article presents economic data without overtly favorable or critical language toward any political entity or ideology. It focuses on statistical changes and attributes them to market factors such as export performance and import reduction, with no apparent ideological framing.