Nigeria's Q2 Current Account Surplus Surges to $5.28 Billion

Nigeria's current account surplus soared to $5.28 billion in the second quarter of 2025, up from $1 billion in Q1, as reported by the Central Bank of Nigeria (CBN). The significant increase reflects a stronger external sector and improved foreign exchange inflows.

The country's gross external reserves also rose to $42 billion, providing ample import cover. The CBN attributed the positive performance to exchange rate stability, tighter monetary policies, and moderation in petroleum product prices.

The recent reduction in the Cash Reserve Ratio (CRR) by the Monetary Policy Committee (MPC) further contributed to managing excess liquidity in the public sector accounts.