Nigeria’s $4 billion trade surplus signals clear economic stabilisation – Wale Edun

Nigeria's Minister of Finance and Coordinating Minister of Economy, Wale Edun, announced a $4 billion trade surplus, indicating a clear economic stabilization in the country. Despite a significant shortfall in oil revenue in the first half of the year, Edun highlighted that the economy surpassed gross receipts from the same period in 2024.

The oil price benchmark for 2025 was set at $75 per barrel, with an average sale of $67 per barrel in the first half of the year. Edun emphasized the government's efforts to restore fiscal discipline and halt uncontrolled spending, allowing for the settlement of significant outstanding obligations.

The National Bureau of Statistics reported a rise in the value of total imports in the first quarter of 2025, reaching trillions, compared to the corresponding quarter in 2024.