Q4-2022 sees Nigeria’s External Position Improve with a Return to Surplus
In Q4-2022, Nigeria’s external position improved, as the current account returned to a surplus position, primarily propelled by a higher trade balance surplus and reduced shortfalls in the services and primary income accounts. Specifically, the current account balance attained a surplus of $2.3 billion, a significant turnaround from the $2.1 billion deficit recorded in Q3-2022.