The Central Bank of Nigeria (CBN) has projected that Nigeria’s current account surplus will rise to $18.81 billion in 2026, signalling an improving external sector outlook.
The projection, contained in the CBN’s Medium-Term Macroeconomic Outlook, is driven by expectations of stronger oil and gas export earnings, reduced imports of refined petroleum products due to increased domestic refining, and higher diaspora remittances through formal channels.
The apex bank also expects external reserves to climb to about $51 billion by 2026, strengthening Nigeria’s foreign exchange buffers and supporting market stability.
However, the CBN noted that risks such as oil price volatility, inflationary pressures, and fiscal slippages could affect the outlook if not properly managed.
Overall, the forecast reflects cautious optimism about Nigeria’s external position and the impact of ongoing economic reforms. Visit www.jocomms.com for more news.