The Central Bank of Nigeria (CBN) has forecast a current account surplus of $18.81 billion for 2026, up from $16.94 billion in 2025.
The projection, contained in the CBN’s 2026 Macroeconomic Outlook, represents 11.16 per cent of GDP.
Increased portfolio investment inflows and external borrowings will maintain a net borrowing position of $10.15 billion in the financial account.
The International Investment Position is expected to show net liabilities of $69.58 billion.
External reserves are projected to rise to $51.04 billion, supported by foreign exchange market reforms and exchange rate stability.
Headline inflation is anticipated to average 12.94 per cent in 2026, driven by easing food prices and lower premium motor spirit costs.
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Global growth is estimated at 3.20 per cent in 2025, with inflation moderating to 4.20 per cent.
Domestic non-oil exports, including agricultural commodities and fertilisers, are set to grow with government initiatives like the National Export Trading Company.
Total imports are projected to increase to $43.27 billion, reflecting higher capital goods demand.
The services account deficit widens to $13.68 billion, while primary income remains in deficit at $8.62 billion.
Secondary income surplus rises to $26.13 billion, boosted by diaspora remittances.
Risks include fiscal overruns, capital reversals, climatic disruptions, and geopolitical tensions.
These projections signal strengthening external buffers and macroeconomic stability amid ongoing reforms in Nigeria.
