Nigeria's Current Account Surplus Falls 65% to $1.4 Billion

Nigeria's current account surplus significantly declined by 65% to $1.4 billion in the fourth quarter of 2025, down from $4.06 billion in the previous quarter, according to data released by the Central Bank of Nigeria (CBN). The overall balance of payments surplus also fell to $2.67 billion in Q4 2025, compared to $4.6 billion in Q3 2025.

This decline highlights increasing strain on Nigeria's external sector, driven by a decrease in export earnings and a rise in import demand. Specifically, crude oil exports dropped by 20.54% to $6.77 billion, and refined petroleum exports decreased by 13.97% to $1.97 billion.

Non-oil imports surged by 24.93% to $8.77 billion, further pressuring the trade balance. The total export value fell to $13.36 billion from $15.31 billion in Q3 2025.

The current account surplus decline of 60.93% to $1.77 billion reflects weaker export performance and rising external obligations, underscoring Nigeria's vulnerability to global oil price fluctuations.