Market News
Nigeria posts $6.83 billion payments surplus amid reforms, rising confidence - REUTERS
By Elisha Bala-Gbogbo and Camillus Eboh
ABUJA, April 9 (Reuters) - Nigeria recorded a balance of payments surplus of $6.83 billion in 2024, driven by the impact of reforms, a stronger trade performance and renewed investor confidence in the economy, the Central Bank of Nigeria said on Monday.
Since coming into office in 2023, President Bola Tinubu has ended costly petrol and electricity subsidies and twice devalued the naira currency to boost Nigeria's decade-long sluggish output.