Nigeria Posts $6.83 Billion Payments Surplus in 2024, First in Three Years

Nigeria Posts $6.83 Billion Payments Surplus in 2024, First in Three Years

The balance of payments tracks the money entering and leaving a country.

Nigeria Posts First Balance of Payments Surplus in Three Years

Nigeria recorded its first balance of payments surplus in three years as reforms including boosting oil and gas production, removing fuel subsidies and free-floating the naira paid off.

J.P Morgan: Decline in Oil Prices Will Push Nigeria’s Current Account Balance into Deficit

Global financial services firm, JP Morgan Chase, yesterday, warned that the substantial decline in oil prices below its break-even of $60 per barrel, will push Nigeria’s current account balance into deficit, if sustained for a few months. In its report, titled, “Frontier Local Market Strategy: Reducing Risk Further,” JP Morgan said, “Under such a scenario, we had previously estimated that USD/NGN could move above 1700 and, as such, close our tra…

CBN: Nigeria Posts $6.83 Billion Balance Of Payments Surplus In 2024

The Central Bank of Nigeria (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 202…

CBN Announces Economic Resurgence Declares, $6.83bn Balance Of Payments Surplus - NEWS AGENCY OF NIGERIA

CBN announces economic resurgence declares, $6.83bn balance of payments surplus 12 total views todayBy Kadiri Abdulrahman The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of 6.83 billion dollars for the 2024 financial year. According to Hakama Sidi-Ali, CBN’s Director, Corporate Communications Department, this marks a decisive turnaround from deficits of 3.34 billion dollars in 2023 and 3.32 billion dollars […]…

Nigeria Posts $6.83bn Balance of Payments Surplus in 2024, Signaling Economic Resurgence

The Central Bank of Nigeria (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.  This improvement reflects the impact of wide-ranging macroeconomic reforms, stronger trade performance, and renewed investor confidence in Nigeria’s economy, a statement by Sidi-Ali, Hakama (Mrs.), the CBN Acting Spokespe…