The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 fiscal year, representing a significant shift from the deficits of $3.34 billion in 2023 and $3.32 billion in 2022.
In an official document released by the CBN yesterday, 9th April 2025, “the current and capital account recorded a surplus of $17.22billion in 2024, underpinned by goods and trade of $13.17billion. Petroleum imports declined by 23.2% to $14.06billion. while non-imports fell by 12.6% to $25.74billon”.
According to the Governor of Central Bank, in a press statement, ‘the positive turnaround in our external finances is the evidence of effective policy implementation and our unwavering commitment to macroeconomics stability.’ he alludes.