Nigeria’s current account surplus rose from $4.49 billion in the first quarter of 2026 to $7.54 billion in the second quarter, reflecting stronger export earnings and an improved external position, the Tinubu Media Support Group (TMSG) has said.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group described the 67.9% increase as further evidence of Nigeria’s growing economic stability and viability.
TMSG attributed the improvement to stronger foreign exchange earnings under President Bola Tinubu’s administration, noting that the country’s foreign reserves have also continued to rise.
According to provisional balance-of-payments data released by the Central Bank of Nigeria, the second-quarter improvement was driven mainly by a stronger goods account, which offset increased net outflows from services and primary income.
The goods account surplus expanded to $10.12 billion in Q2, compared with $5.96 billion in Q1 and $4.85 billion in the corresponding quarter of 2025.
Total exports rose to $20.08 billion during the quarter from $15.56 billion in Q1. Crude oil export receipts increased by 15.78% to $9.39 billion, while gas exports rose by 40.15% to $3.63 billion.
Receipts from refined petroleum products climbed 66.24% to $3.94 billion, while non-oil exports grew by 25.30% to $3.12 billion.
The group said the figures showed a steady quarter-on-quarter improvement in Nigeria’s balance of payments, driven by stronger foreign exchange earnings.
“TMSG believes the economy has turned the corner,” the statement said, urging Nigerians to focus on verifiable economic data and disregard what it described as pessimistic political rhetoric and misinformation ahead of the 2027 general elections.
