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Nigeria reports $6.83 billion balance of payments surplus in 2024, marking a shift from deficits.
Nigeria achieved a balance of payments surplus of $6.83 billion in 2024, marking a significant improvement from deficits in the previous two years.
This turnaround is attributed to macroeconomic reforms, better trade performance, and increased investor confidence.
The surplus in current and capital accounts was $17.22 billion, driven by a goods trade surplus of $13.17 billion.
Remittances climbed 8.9% to $20.93 billion, and external reserves grew by $6 billion to $40.19 billion.
However, some critics argue that these improvements have not translated into better business conditions or economic growth under President Bola Tinubu's administration.
Nigeria informa de un superávit de la balanza de pagos de 6.830 millones de dólares en 2024, lo que supone un cambio respecto de los déficits.