Story perspectives

Nigeria's 2025 Surplus Falls Amid Changing Oil Dynamics

3/20/2026

Summary

Story summary

Nigeria's Balance of Payments in 2025 shows a current account surplus of $14.04 billion, down from $19.03 billion in 2024.
The decline reflects changing oil trading patterns after Dangote refinery's operations, cutting crude exports 14% to $31.54 billion.
The goods account surplus rose to $14.51 billion, driven by refined petroleum exports.
Structural deficits persist with a widened services deficit and higher primary income outflows.
Foreign reserves rose to $45.75 billion.

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Story summary

Nigeria's Balance of Payments in 2025 shows a current account surplus of $14.04 billion, down from $19.03 billion in 2024.
The decline reflects changing oil trading patterns after Dangote refinery's operations, cutting crude exports 14% to $31.54 billion.
The goods account surplus rose to $14.51 billion, driven by refined petroleum exports.
Structural deficits persist with a widened services deficit and higher primary income outflows.
Foreign reserves rose to $45.75 billion.