Nigeria posted a present account surplus of $3.42 billion within the third quarter of 2025, down 41.14% from the $5.81 billion recorded in Q2 2025.
That is in accordance with the Central Bank of Nigeria’s newest Steadiness of Funds (BoP) Highlights.
The excess was additionally decrease than the $5.78 billion posted in Q3 2024, reflecting rising exterior obligations regardless of stronger oil-sector earnings.
What the report is saying
The report learn, “Provisional steadiness of funds (BOP) statistics for Q3 2025 present a present account surplus of US$3.42 billion, which was decrease than the US$5.81 billion and US$5.78 billion recorded within the previous quarter (Q2 2025) and corresponding interval of 2024, respectively.”
The present account remained in surplus primarily as a result of export receipts strengthened throughout the quarter. Complete exports elevated to $15.24 billion in Q3 2025, in contrast with $14.90 billion in Q2 2025, pushed largely by crude oil and refined-product exports.
Crude oil export earnings rose by 10.31% to $8.45 billion, whereas refined petroleum product exports soared 44.03% to $2.29 billion. Gasoline exports, nevertheless, declined 30.21% to $2.31 billion, and non-oil exports fell to $2.19 billion from $2.34 billion within the earlier quarter.
Imports additionally rose, with whole imports climbing to $10.30 billion from $9.61 billion in Q2 2025. A key improvement throughout the quarter was the continued decline in gasoline imports.
Refined petroleum product imports dropped 12.70% to $1.65 billion, signalling Nigeria’s gradual transition towards being a internet exporter of refined merchandise. Non-oil imports rose to $7.08 billion from $6.68 billion.
Regardless of the import enhance, the products account stayed in surplus at $4.94 billion, barely under the $5.28 billion surplus in Q2 2025, however nicely above the $3.93 billion recorded in Q3 2024. The CBN famous that the advance in crude and refined-product exports helped maintain the optimistic items steadiness by means of the interval.
Remittances maintain agency as providers and funding outflows rise
International trade inflows by means of the secondary earnings account, notably diaspora remittances, remained robust. The account recorded $5.50 billion in Q3 2025, solely barely decrease than the $5.51 billion posted in Q2 2025. Inside this phase, staff’ remittances declined marginally to $5.24 billion from $5.30 billion within the earlier quarter.
Nonetheless, these inflows had been offset by increased outflows on providers and first earnings. Internet providers funds widened to -$4.07 billion, in contrast with – $3.74 billion in Q2 2025. The rise was linked to increased spending on transport, journey, insurance coverage, ICT-related providers and authorities providers.
The first earnings account additionally deteriorated sharply to a internet debit of $2.95 billion, up from $1.25 billion in Q2 2025. Based on the CBN, this was largely as a consequence of repatriation of reinvested earnings by home banks on their international investments, displaying the continued influence of revenue and dividend funds on Nigeria’s exterior earnings place.
Monetary account swings to surplus as reserves climb to $42.77 billion
Nigeria’s monetary account recorded a internet lending place of $0.32 billion in Q3 2025, a dramatic turnaround from the online borrowing of $6.90 billion in Q2 2025. This implies the economic system collected extra exterior monetary property — together with reserve property — than it acquired from international funding inflows.
- Portfolio funding inflows fell to $2.51 billion from $5.28 billion in Q2 2025, reflecting decrease international participation in home securities than within the earlier quarter. In distinction, international direct funding inflows rose sharply to $0.72 billion, up from $0.09 billion in Q2 2025.
- Different funding liabilities amounted to $0.84 billion, whereas Nigerian investments overseas confirmed reversals and outflows throughout direct, portfolio and different funding property.
The general steadiness of funds returned to a surplus of $4.60 billion in Q3 2025, in contrast with a deficit of $0.27 billion in Q2 2025. On the similar time, exterior reserves elevated considerably to $42.77 billion as at end-September 2025, up from $37.81 billion as at end-June 2025.
Internet Errors and Omissions additionally narrowed to – $3.09 billion, from – $12.71 billion within the earlier quarter, indicating diminished unrecorded transactions.