Nigeria’s external balance strengthens as current account surplus soars to $4.98bn

In the first quarter of 2026, Nigeria's external sector demonstrated notable improvement, as evidenced by a current account surplus of $4.98 billion. This figure marks a substantial increase of 255.7 percent compared to the previous quarter. The surge in the surplus is primarily attributed to enhanced revenues from crude oil, gas, and refined petroleum exports, which played a critical role in bolstering the nation's external balance.

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