ABUJA – The International Monetary Fund (IMF), says Nigeria’s current account balance has experienced a surplus of $1.432 billion in 2024.
IMF in a report, ‘World Economic Outlook Database’ noted that the increase in the Federal Government’s account for the period was an improvement from the $1.21 billion surplus recorded in 2023.
In 2024, Nigeria’s gross national savings increased to 26.32 percent of Gross Domestic Product, up from 24.61 percent in 2023. Total investment also rose to 25.75 percent of GDP in 2024, compared to 24.28 percent 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.
