Nigeria’s current account records a surplus of $4.98 billion in the first quarter of 2026 (Q1 2026), according to the Central Bank of Nigeria (CBN). Vanguard reports that the surplus increases by 46% year-on-year (YoY) and also rises quarter-on-quarter (QoQ), based on the CBN’s Balance of Payments (BoP) report for Q1 2026. The Punch reports the surplus jumps to $4.98 billion in Q1 2026, citing a larger YoY rate of increase of 256%. Both outlets link the improvement to external trade developments, including stronger oil and gas export performance and lower petroleum product imports. Together, the reports indicate that Nigeria’s current account balance improves markedly during the quarter, with the change supported by the export side (oil and gas) and the import side (petroleum products).
Nigeria’s current account surplus rises to $4.98 billion in Q1 2026
Nigeria’s current account records a surplus of $4.98 billion in the first quarter of 2026 (Q1 2026), according to the Central Bank of Nigeria (CBN). Vanguard reports that the surplus increases by 46%...
- The Central Bank of Nigeria reports a current account surplus of $4.98 billion in Q1 2026.
- Vanguard says the surplus rises 46% year-on-year (YoY) and also increases quarter-on-quarter (QoQ).
- The Punch reports a 256% increase year-on-year to $4.98 billion in Q1 2026.
- Both outlets attribute the improvement partly to higher oil and gas exports.
- Both outlets also cite reduced petroleum product imports as a factor in the surplus.
By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, yesterday said the nation’s current account surplus grew year-on-year (YoY) by 46 percent to $4.98 billion in the first quarter of 2026 (Q1’26). The apex bank disclosed this in its Balance of Payments (BoP) report for Q1’26 noting that the current account surplus also grew quarter-on-quarter (QoQ) […] The post Nigeria’s current account surplus rises 46% to $4.98bn appeared first on Vanguard News.
2 months agoNigeria’s current account surplus surged to $4.98bn in Q1 2026, driven by robust oil and gas exports and reduced petroleum product imports. Learn more. Read More: https://punchng.com/oil-exports-drive-nigerias-current-account-surplus-to-4-98bn/
2 months agoNigeria’s current account surplus surged by 256% to $4.98bn in Q1 2026, driven by higher oil and gas exports and reduced petroleum product imports. Learn m Read More: https://punchng.com/nigerias-current-account-surplus-jumps-256-to-4-98bn/
2 months agoThe Central Bank of Nigeria (CBN) has said the country’s current account surplus rose by 46 percent year-on-year to $4.98 billion in the first quarter of 2026 (Q1’26). The post Nigeria’s current account surplus rises 46% to $4.98bn appeared first on Vanguard News.
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