Nigeria’s external position is expected to strengthen further in 2026, with the country’s current account surplus projected to climb to $18.81 billion, equivalent to 11.16 percent of GDP, according to the Central Bank of Nigeria’s 2026 Macroeconomic Outlook.
This compares with an estimated surplus of $16.94 billion or 10.94 percent of GDP in 2025. The apex bank expects the improvement to be driven largely by stronger export earnings and rising transfers, even as pressures from higher imports, services payments and investment income outflows remain.
The News Chronicle understands that export receipts are projected to rise to $58.26 billion in 2026 from $54.59 billion in 2025, supported by higher crude oil production following improved security and increased investment, alongside steady growth in non oil exports such as agricultural produce and fertilisers.
Government backed initiatives aimed at strengthening the export value chain and boosting creative industry earnings are also expected to support non oil inflows.
However, imports are forecast to increase to $43.27 billion in 2026 as demand for capital goods grows with expanding economic activity.
The services account deficit is expected to widen due to higher business, transport and freight related payments, while the primary income account remains in deficit as foreign investors repatriate interest and dividends.
On the positive side, stronger diaspora remittances and transfers are projected to lift the secondary income surplus to $26.13 billion in 2026.
