FMDA projects Nigeria’s current account surplus at $8.69bn in Q3 on stronger oil earnings
Nigeria’s current account surplus is projected to widen to $8.69 billion in the third quarter of 2026 from $7.54 billion recorded in the second quarter, the Financial Markets Dealers Association (FMDA) has said, citing lower import demand and persistently elevated crude oil prices. The post FMDA projects Nigeria’s current account surplus at $8.69bn in Q3 on stronger oil earnings appeared first on…
The Financial Markets Dealers Association (FMDA) predicts Nigeria's current account surplus will increase to $8.69 billion in the third quarter of 2026, up from $7.54 billion in the second quarter. This projection, found in the September 2026 Monthly Market Report, attributes the higher figure to lower import demand and persistently high crude oil prices.
The Q2 figure had already exceeded the initial forecast of $6.12 billion. FMDA highlights that the $8.69 billion projection is still tentative, awaiting official Q3 data. However, the report suggests that strong external reserves and improving trade balances indicate a better external position in Nigeria. The current account surplus has been on an upward trend since Q4 2025, reaching $4.98 billion in Q1 2026 and $7.54 billion in Q2 2026. FMDA expects this trend to persist in Q3, driven by lower import demand and high oil prices.
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