Current Account in Nigeria

Nigeria Current Account (USD bn) | Economic News & Forecasts

Nigeria - Current Account (billions of U.S. Dollars)

Economic growth cooled in the first quarter of the year due to a further deterioration in the key oil sector. This more than offset a strong performance in the services sector leading non-oil sector activity to firm. Second-quarter data paints a mixed picture. Private-sector operating conditions improved at a fractionally slower pace in April–May, while credit growth was also broadly stable in April. That said, inflation rose markedly in the same month. A pickup in core inflation highlights that price pressures are farther-reaching than energy and food price increases. Meanwhile, sectarian violence spread to the country’s relatively safe south-western region. Social tensions and violence could increase going forward, as religious and regional divides are heightening the stakes of the February 2023 presidential elections.

Nigeria - Current Account (USD bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (USD bn)-15.4  2.7  10.4  3.9  -17.0  

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Nigeria Current Account (USD bn) Chart


Nigeria Current Account
Note: Current account balance as % of GDP
Source: Central Bank of Nigeria

Nigeria Facts

Value Change Date
Bond Yield11.100.0 %Dec 31
Exchange Rate306.53.08 %Jan 01
Stock Market0.10.0 %Jan 07

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