Nigeria's External Account Set for $17.7 Billion Surplus in 2026, Analysts Predict Strong Growth

Analysts predict Nigeria's external account will see a significant growth in 2026, with a projected $17.7 billion current account surplus, equivalent to 4.9% of GDP. This outlook, as per FMDQ and CardinalStone Research, is fueled by diversification efforts and resilience in the external sector.

Factors such as increased foreign inflows, expanded export of refined petroleum products, and strengthened foreign exchange reserves are contributing to this positive trend. The surge in foreign direct investment (FDI) and foreign portfolio inflows (FPI) reaching a record $18.7 billion in 2025 is also highlighted.

Dangote Refinery's boost to local refining capacity is expected to enhance Nigeria's export potential.