CBN projects Nigeria's current account surplus to grow to $18.8bn in 2026

The Central Bank of Nigeria (CBN) forecasts a continued strengthening of Nigeria’s current account balance, projecting a surplus of $18.81 billion (11.16% of GDP) in 2026.

This represents an increase from an estimated $16.94 billion (10.94% of GDP) in 2025, according to the bank’s 2026 Macroeconomic Outlook.

The improvement is primarily driven by stronger export receipts, which are expected to rise to $58.26 billion in 2026 from $54.59 billion in 2025.

Growth is anticipated in both oil exports—due to increased domestic production—and non-oil exports, supported by government initiatives like the National Export Trading Company.

However, the positive outlook is tempered by persistent pressures. Imports are projected to increase to $43.27 billion, reflecting higher demand for capital goods. The services account deficit is also expected to widen, and the primary income account will remain in deficit due to investment income payments to foreign investors.

A significant boost is expected from the secondary income account, with a surplus projected to rise to $26.13 billion, fueled by stronger diaspora remittances and transfers.

The CBN noted that these inflows may also support election-related activities in the period.

While the projections highlight gains from oil sector reforms and export diversification, they also underscore ongoing structural challenges, including import dependence and growing income outflows.

The report comes after Nigeria recorded a current account surplus of $3.42 billion in Q3 2025 and a significant surge in Foreign Direct Investment inflows to $720 million in the same quarter.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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