Nigeria’s current account surplus rose significantly to $7.54 billion in the second quarter of 2026, marking a 67.9 per cent increase and reflecting stronger external earnings and higher remittance inflows, according to newly reported figures.
The latest development highlights changes in Nigeria’s external sector as the country continues to benefit from stronger export performance and improved inflows from Nigerians living abroad.
A current account surplus occurs when a country’s earnings from exports of goods and services, income and transfers exceed its payments to the rest of the world. The increase therefore provides an important indicator of Nigeria’s external financial position.
According to figures reported by Dikkasmedia, the surplus increased from the previous quarter as export earnings strengthened and remittances contributed to the improvement. The development comes amid ongoing efforts to stabilise the country’s foreign exchange market and improve the supply of foreign currency.
Nigeria’s external position remains closely watched by businesses and investors because foreign exchange availability affects the cost of imported goods, machinery, raw materials and other inputs required by companies.
The improvement in the current account also comes as Nigeria continues to push for higher non-oil exports and greater diversification of its sources of foreign exchange. While crude oil remains an important component of the country’s export earnings, policymakers have increasingly emphasised agriculture, manufacturing and other sectors capable of generating international revenue.
Remittances are another major source of foreign exchange for Nigeria. Money sent home by Nigerians living abroad supports households and contributes to the country’s overall external receipts.
The latest surplus could therefore provide a positive signal about the country’s balance of payments position, although the sustainability of the improvement will depend on developments in exports, imports, oil prices, capital flows and remittance receipts.
Businesses will continue to monitor these indicators closely, particularly because movements in foreign exchange availability can influence operating costs, investment decisions and consumer prices.
The second-quarter figures add to a series of economic developments being watched by investors as Nigeria seeks to strengthen macroeconomic stability and attract more domestic and international investment.
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