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Economy

Nigeria posts $6.83 billion balance of payments surplus in 2024: Central bank

Date: Apr 9, 2025

Nigeria recorded a balance of payments surplus of $6.83 billion in 2024, driven by the impact of reforms, a stronger trade performance, and renewed investor confidence in the economy, the Central Bank of Nigeria (CBN) said on Monday.

The balance of payment surplus compares with deficits of $3.34 billion in 2023 and $3.32 billion in 2022, the CBN reported in a statement.

Nigeria's current and capital accounts also showed a surplus of $17.22 billion in 2024, driven by a goods trade surplus of $13.17 billion.

Remittances remained a key support, rising 8.9% to $20.93 billion last year, the CBN said.

--Reuters--