Nigeria recorded a balance of payment (BOP) surplus of $6.83 billion in 2024, marking a sharp reversal from consecutive deficits posted in the prior two years.
The latest figures, released by the Central Bank of Nigeria (CBN), signal a broad-based resurgence in the country’s external finances, aided by wide-ranging macroeconomic reforms, stronger trade flows, and a renewed sense of investor confidence.
The BOP, which measures the country’s financial transactions with the rest of the world, swung from a deficit of $1.21 billion in 2023 to a $6.83 billion surplus in 2024, underpinned by a sharp improvement in the current and capital account positions.
Read more at Nairametrics
The latest figures, released by the Central Bank of Nigeria (CBN), signal a broad-based resurgence in the country’s external finances, aided by wide-ranging macroeconomic reforms, stronger trade flows, and a renewed sense of investor confidence.
The BOP, which measures the country’s financial transactions with the rest of the world, swung from a deficit of $1.21 billion in 2023 to a $6.83 billion surplus in 2024, underpinned by a sharp improvement in the current and capital account positions.
Read more at Nairametrics