Nigeria’s current account surplus rose to $7.54 billion in the second quarter of 2026, the Central Bank of Nigeria said in provisional balance of payments figures.

The surplus was 67.9 per cent higher than the $4.49 billion recorded in the first quarter and 45.8 per cent above the $5.17 billion of the same period in 2025.

Personal transfers from Nigerians abroad, mainly remittances, climbed to $5.82 billion from $5.30 billion in the previous quarter, a rise of 9.81 per cent. The secondary income account, which includes those transfers, stood at $6.30 billion.

The goods account posted a surplus of $10.12 billion, up from $5.96 billion in the first quarter. Total exports were $20.08 billion, against $15.56 billion previously. Crude oil exports were $9.39 billion, gas $3.63 billion and refined petroleum products $3.94 billion. Crude oil imports fell to $580 million from $1.39 billion.

The services account remained in deficit at $4.67 billion, wider than $3.71 billion in the first quarter, on higher payments for transport, travel, insurance and other business services. The primary income account also showed a larger deficit of $4.20 billion, against $3.23 billion, as dividend and interest payments to foreign investors increased.

External reserves were put at $51.39 billion at the end of the quarter, from $48.35 billion at end-March. Portfolio inflows were $7.09 billion and foreign direct investment $1.15 billion. The overall balance of payments recorded a $3.51 billion surplus.

The current account measures trade, services and transfers with the rest of the world. A wider surplus means Nigeria earned more from those flows than it paid out in the quarter. It does not by itself show what households paid for food or fuel. Remittances remain private money sent home, not government revenue.