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Current Account Surplus Jumps to $7.5bn in Q2 2026 – CBN
Nigeria’s current account surplus rose sharply to $7.54bn in the second quarter of 2026, up 67.9% from $4.49bn in Q1, according to provisional balance of payments data released by the Central Bank of Nigeria (CBN).
The figure is also 45.8% higher than the $5.17bn surplus recorded in Q2 2025.
The improvement was driven by a stronger goods account, which offset increased outflows from services and primary income.
The goods account surplus expanded to $10.12bn in Q2, from $5.96bn in Q1 and $4.85bn in Q2 2025. Total exports rose to $20.08bn from $15.56bn in Q1.
Crude oil exports increased 15.78% to $9.39bn, natural gas exports climbed 40.15% to $3.63bn, and refined petroleum products recorded the strongest growth, rising 66.24% to $3.94bn — a performance analysts linked to the Dangote refinery.
Non-oil exports also rose 25.30% to $3.12bn. Lower crude oil imports, which fell to $580m in Q2 from $1.39bn in Q1, further boosted the goods account.
The services account recorded a net outflow of $4.67bn in Q2, compared with $3.71bn in Q1, due to higher payments for transport, travel, insurance and other business services.
The primary income deficit widened to $4.20bn from $3.23bn in Q1, driven by higher dividend and interest payments to foreign investors.
Secondary income strengthened to $6.30bn from $5.47bn, with personal remittances rising 9.81% to $5.82bn, which helped cushion the outflows.
On the financial account, Nigeria posted a net lending position of $1.74bn in Q2, reversing a net borrowing position of $2.03bn in Q1. Portfolio investment inflows rose to $7.09bn from $6.03bn, while foreign direct investment inflows increased to $1.15bn from $1.03bn.
