BREAKING: Nigeria’s current account surplus jumps 68% to $7.54 billion in Q2 2026

In Q2 2026, Nigeria's current account surplus surged by an impressive 67.9% to reach $7.54 billion, up from $4.49 billion in the previous quarter. This notable increase was primarily driven by stronger export receipts and higher remittances from the diaspora. The surplus marked a 45.8% jump compared to the same period in 2025, as recorded by the Central Bank of Nigeria (CBN).

The goods account surplus expanded to $10.12 billion, reflecting a wider surplus, while the services and primary income accounts experienced larger net outflows. Despite this, the rise in remittances played a crucial role in offsetting the higher outflows in other sectors. The financial account showed a net lending position of $1.74 billion, a shift from the net borrowing position of $2.03 billion in the preceding quarter.

However, investments abroad resulted in outflows, with direct investment assets amounting to $560 million and portfolio investment assets amounting to $700 million. Overall, Nigeria recorded a balance of payments surplus of $3.51 billion in Q2 2026, with external reserves growing by $7.09 billion since the start of the year. This growth has surpassed the Central Bank of Nigeria's projected reserve level for 2026, providing a stronger external buffer for the Nigerian economy.