CBN Governor, Cardoso, says Nigeria’s commerce surplus is now 6% of GDP

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed that Nigeria’s commerce surplus has risen to six% of the nation’s Gross Home Product (GDP), noting that that is anticipated to stay at that degree within the close to future.

The CBN Governor attributed the improved stability of commerce to sound macroeconomic insurance policies which are starting to yield constructive outcomes.

In keeping with a press assertion signed by the Director of Info and Public Relations of Federal Ministry of Finance, Mohammed Manga, this was made recognized by Cardoso whereas talking on the G-24 press briefing on the sidelines of the IMF/World Bank Annual Conferences in Washington.

Cardoso who stood in for the Finance Minister, Wale Edun, who’s the primary Vice Chair of the G24, famous that Nigeria had been shielded from the worldwide uncertainties.

Nigeria shines at G24 conferences

Manga within the assertion stated, ‘’Because the world watches, Nigeria’s financial prospects are shining brighter, with the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, becoming a member of the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, as a part of the Nigerian delegation at right this moment’s G24 conferences on the sidelines of the IMF/World Bank Annual Conferences in Washington D.C. The conferences supplied a platform for discussions on key themes corresponding to home useful resource mobilization, inflation, and sound macroeconomic insurance policies.

‘’In the course of the conferences, Cardoso disclosed that Nigeria’s commerce surplus has risen to six% of the nation’s Gross Home Product (GDP) and is predicted to stay at that degree within the close to time period. He attributed the improved stability of commerce to sound macroeconomic insurance policies which are starting to yield constructive outcomes.

‘’The CBN Governor additionally highlighted the significance of sustaining sound macroeconomic insurance policies, noting a powerful correlation between disciplined financial administration, progress, and disinflation. He additional disclosed that the apex bank is engaged on a framework to make forex swaps with different nations a win-win affair.’’

Cardoso famous that there’s a full restructuring of the financial system, with a aggressive forex encouraging folks to enter home manufacturing and, in fact, discouraging imports.

Dr. Uzoka-Anite’s participation within the conferences underscores the Nigerian authorities’s dedication to participating with worldwide monetary establishments and stakeholders to drive financial progress and improvement. Her presence on the G24 conferences demonstrates the federal government’s proactive method to fostering financial cooperation and dialogue with world companions.

The assertion added, ‘’The conferences mark a major step ahead for Nigeria’s financial progress and improvement, because the nation continues to have interaction with worldwide monetary establishments and stakeholders to drive progress and enhance the lives of its residents.’’

What you must know

In the meantime, the Nationwide Bureau of Statistics (NBS) had earlier in its report acknowledged that Nigeria’s commerce surplus elevated by 44% in Q2, 2025.

Nigeria’s whole merchandise commerce stood at N38,037.52 billion in Q2, 2025. This represents a rise of 20.05% over the worth; N31,683.75 billion recorded within the corresponding interval of 2024 and a rise by 5.59% in comparison with the worth recorded within the previous quarter (N36,024.66 billion).

Within the quarter beneath assessment, exports accounted for 59.81% of whole commerce with a price of N22,750.74 billion, exhibiting a rise of 28.43% over the worth recorded within the corresponding quarter of 2024 (N17,714.41 billion) and by 10.45% in comparison with the worth recorded in Q1, 2025 (N20,598.48 billion).

Crude oil accounted for N11,965.98 billion, representing 52.60% of whole exports. Non-crude oil exports stood at N10,784.76 billion, accounting for 47.40% of whole exports; of which non-oil merchandise contributed N3,045.55 billion or 13.39% of whole exports.

Imports accounted for 40.19% of whole commerce within the second quarter of 2025, with a price of N15,286.78 billion representing a 9.43% enhance, in comparison with N13,969.34 billion recorded in Q2 2024, and 0.90% lower from N15,426.17 billion recorded in Q1 2025.