Nigeria's balance of payments just swung hard into a huge surplus. The Central Bank of Nigeria reported a 4.6 billion dollar surplus for the third quarter of 2025, a sharp reversal from the prior quarter's deficit, driven by stronger trade performance and growing foreign investment. Key factors included a goods account surplus of 4.94 billion dollars, with crude oil exports hitting 8.45 billion dollars and refined petroleum product exports jumping forty four percent to 2.29 billion dollars, signaling a shift toward becoming a net fuel exporter.
Acting CBN spokesperson Hakama Sidi Ali also noted domestic economic activity strengthened in December, with the Composite Purchasing Managers Index climbing to 57.6 points, the strongest reading in about five years. Worker remittances from the diaspora remained robust at 5.24 billion dollars, while foreign direct investment rose to 720 million dollars and portfolio investment reached 2.51 billion dollars. External reserves grew to 42.77 billion dollars by the end of September.
The broad-based PMI expansion saw agriculture, industry, and services sectors all above the growth threshold, with thirty two of thirty six monitored subsectors reporting increased production and new orders. The central bank linked these improvements to ongoing macroeconomic reforms and stabilization efforts in the foreign exchange and energy sectors. These data point to firmer external sector conditions and rising investor confidence as the country moves into the new year.
Acting CBN spokesperson Hakama Sidi Ali also noted domestic economic activity strengthened in December, with the Composite Purchasing Managers Index climbing to 57.6 points, the strongest reading in about five years. Worker remittances from the diaspora remained robust at 5.24 billion dollars, while foreign direct investment rose to 720 million dollars and portfolio investment reached 2.51 billion dollars. External reserves grew to 42.77 billion dollars by the end of September.
The broad-based PMI expansion saw agriculture, industry, and services sectors all above the growth threshold, with thirty two of thirty six monitored subsectors reporting increased production and new orders. The central bank linked these improvements to ongoing macroeconomic reforms and stabilization efforts in the foreign exchange and energy sectors. These data point to firmer external sector conditions and rising investor confidence as the country moves into the new year.
