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flag Nigeria reports $6.83 billion balance of payments surplus in 2024, marking a shift from deficits.

flag Nigeria achieved a balance of payments surplus of $6.83 billion in 2024, marking a significant improvement from deficits in the previous two years. flag This turnaround is attributed to macroeconomic reforms, better trade performance, and increased investor confidence. flag The surplus in current and capital accounts was $17.22 billion, driven by a goods trade surplus of $13.17 billion. flag Remittances climbed 8.9% to $20.93 billion, and external reserves grew by $6 billion to $40.19 billion. flag However, some critics argue that these improvements have not translated into better business conditions or economic growth under President Bola Tinubu's administration.

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