Nigeria’s current account balance has experienced a surplus of $1.432bn in 2024, according to a report by the International Monetary Fund (IMF).

The report, ‘World Economic Outlook Database’ seen by Channels Television on Wednesday, noted that the increase in the Federal Government’s account for the period was an improvement from the $1.21bn surplus recorded in 2023.


The improvement was attributed to the country’s growing gross national savings and investment.


In 2024, Nigeria’s gross national savings increased to 26.32 per cent of Gross Domestic Product, up from 24.61 per cent in 2023. Total investment also rose to 25.75 per cent of GDP in 2024, compared to 24.28 per cent in 2023, according to the report.



A country’s current account balance represents the combined total of its trade balance, net income, direct transfers, and asset income, providing a comprehensive picture of its international economic transactions.

It reflects the balance between exports and imports, income earned and paid, and asset increases or decreases.

A positive balance indicates a net lending position, while a negative balance indicates a net borrowing position.

The IMF data provides a positive outlook for Nigeria’s economic growth and stability, indicating a growing economy with increasing investment and savings. This trend is expected to continue, driving economic growth and stability in the region.

DeLaRue:
Nigeria! Biiiiig and strong.

Step by step, Nigeria is on it way to recovery.

Biodun556:
https://www.vanguardngr.com/2024/06/nigerias-current-account-balance-exceeds-1-432bn-says-imf/

Puss360:
Lol... Watch how those "Citizens" who hate "Their own country" will avoid this thread... Because it speaks something positive about the country!!

But when it's bad news, they will derive joy!!!

Bubu4Sea:
Our budget is in Trillions and we are rejoicing over N1.4 billion?

That's less than 0.001%


What is this fool saying?

Nigeria’s current account balance rose to a 9-year high of $7.7 billion in the first half of 2022, five times higher than the $1.13 billion recorded in the second half of last year.

Zealag:
By the time APC use propaganda finish una for this country,una go wise during the next election.Everybody must get sense come 2027

Blackhacker:
That amount is still small as a country, it's in Naira currency and not Dollars so for me still small.

Nbotee:
Account Balance surplus lol.. This govt and propaganda ehn.. So just days after it was revealed the external reserves dwindled by over 1 billion, they are pushing an account balance surplus