### Nigeria's Economic Resurgence: A $4.6 Billion Balance of Payments Surplus in Q3 2025 In the third quarter of 2025, Nigeria experienced a significant economic turnaround, posting a Balance of Payments (BOP) surplus of **$4.6 billion**. This marks a notable recovery from the previous quarter's deficit of **$0.27 billion**. The surge in fuel exports, particularly crude oil and refined petroleum products, alongside robust remittances, played a crucial role in this positive shift. The Central Bank of Nigeria (CBN) attributed this improvement to enhanced trade performance and increased capital flows, which collectively bolstered the country's external financial position [https://www.tv360nigeria.com/nigeria-posts-4-6bn-balance-of-payments-surplus-in-q3-2025-on-strong-capital-flows]. ### Breakdown of Nigeria's Economic Performance 1. **Balance of Payments Overview** - Nigeria recorded a **BOP surplus of $4.6 billion** in Q3 2025, reversing the previous quarter's deficit [https://www.premiumtimesng.com/business/business-news/846686-oil-exports-remittances-drive-nigerias-4-6-billion-bop-surplus-in-q3.html]. - The current account surplus was reported at **$3.42 billion**, indicating a strong external position [https://premiumnewsng.com/2025/12/30/nigerias-balance-of-payments-records-4-6bn-surplus-in-q3-says-cbn]. 2. **Trade and Export Performance** - The goods account surplus reached **$4.94 billion**, driven by total goods exports of **$15.24 billion**, which included **$8.45 billion** from crude oil and a **44% increase** in refined petroleum products to **$2.29 billion** [https://premiumnewsng.com/2025/12/30/nigerias-balance-of-payments-records-4-6bn-surplus-in-q3-says-cbn]. - Imports of refined products decreased by **12.7%**, further enhancing the goods account surplus [https://www.nationalaccordnewspaper.com/nigeria-posts-4-6bn-balance-of-payments-surplus-in-q3-2025-as-trade-remittances-improve-cbn]. 3. **Remittances and Capital Flows** - Workers' remittances contributed significantly, with a surplus of **$5.50 billion** in the secondary income account, primarily driven by **$5.24 billion** from remittances [https://www.tvcnews.tv/nigeria-records-4-6bn-bop-surplus-as-economic-activity-strengthened-in-december]. - The CBN noted that improved financial account dynamics and rising reserves, which hit **$42.77 billion**, were pivotal in offsetting weaker trade and income earnings [https://www.thecable.ng/cbn-nigeria-recorded-4-60bn-balance-of-payments-surplus-in-q3-2025]. ### Summary of Findings **Nigeria's economic landscape in Q3 2025 reflects a robust recovery**, characterized by a **$4.6 billion BOP surplus** and a **$3.42 billion current account surplus**. The key drivers of this turnaround include: 1. **Increased exports**: A significant rise in crude oil and refined petroleum exports, alongside a decrease in imports, strengthened the goods account. 2. **Strong remittances**: High levels of remittances contributed to the secondary income account surplus, bolstering overall economic stability. 3. **Improved financial flows**: Enhanced capital flows and rising foreign reserves supported the positive external position. This comprehensive overview underscores Nigeria's potential for economic resilience and growth, driven by strategic improvements in trade and financial management [https://independent.ng/nigerias-balance-of-payments-records-4-6bn-surplus-in-q3-2025-cbn].