• About
  • Advertise
  • Contact
Friday, June 27, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Nigeria’s Current Account Balance Increases By $1.43bln – IMF

Vital News by Vital News
June 5, 2024
in Economy
0
Nigeria’s Current Account Balance Increases By $1.43bln – IMF
Share on FacebookShare on Twitter

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’ 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.

RelatedStories

Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX

President Tinubu Signs Tax Reform Bills Into Law

NUT: A Stand For Truth, Unity And Progress — Western Bloc Speaks Out On Recent Misleading Press Release By Okun Stakeholders Forum

Current Economic Hardship Should Not Be Blamed On President Tinubu – Sunday Babalola

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.

The development comes as the country grapples with the aftermath of subsidies removal by President Bola Tinubu in May, 2023.

Nigeria’s inflation rate currently stands at 33.69 per cent, according to data from the National Bureau of Statistics (NBS).
(vitalnewsngr.com)

Tags: accountbalanceexport supervisesimports
Previous Post

Abiodun Thumbs Up Police On Security In Ogun

Next Post

Lagos Recruits Over Two Million Voluntary Blood Donors, Saves 1.5million Lives

Vital News

Vital News

RelatedStories

Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX
Business

Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX

June 26, 2025
President Tinubu Signs Tax Reform Bills Into Law
Business

President Tinubu Signs Tax Reform Bills Into Law

June 26, 2025
NUT: A Stand For Truth, Unity And Progress — Western Bloc Speaks Out On Recent Misleading Press Release By Okun Stakeholders Forum
Economy

NUT: A Stand For Truth, Unity And Progress — Western Bloc Speaks Out On Recent Misleading Press Release By Okun Stakeholders Forum

June 23, 2025
Current Economic Hardship Should Not Be Blamed On  President Tinubu – Sunday Babalola
Economy

Current Economic Hardship Should Not Be Blamed On President Tinubu – Sunday Babalola

June 19, 2025
FAAC Shares N1.35tn June Revenue Among FG, States, LGs
Economy

FAAC Shares N1.659trillion May 2025 Revenue To FG, States, LGs

June 18, 2025
Next Post
Flooding : Lagos Begins Removal Of Structures On Drainage Setback

Lagos Recruits Over Two Million Voluntary Blood Donors, Saves 1.5million Lives

The World Bank Global Impact And The Blessedness Of Dr Joy Iganya Agene As A Gifted Soul To The Sub-sahara African Countries By Abah Benjamin Eneojoh

The World Bank Global Impact And The Blessedness Of Dr Joy Iganya Agene As A Gifted Soul To The Sub-sahara African Countries By Abah Benjamin Eneojoh

Police Nab Suspected Killers Of Oyo Perm Sec, 34 Others

Police Arrest State Lawmaker, Former LG Chairman, District Head For Banditry In Zamfara

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

US Landlord Killed Muslim Boy And Wounded Woman In Hate Crime Motivated By Israeli-Hamas War, Police Say

2 years ago
First Ministerial Conference Of  Russia-Africa Forum Begins In Sochi, Food Security Tops Agenda

First Ministerial Conference Of Russia-Africa Forum Begins In Sochi, Food Security Tops Agenda

8 months ago
Kogi Police Presents N16mln To Families of 28 Deceased Police Officers

Kogi Police Presents N16mln To Families of 28 Deceased Police Officers

2 years ago
Abdullahi Preaches Peace, Urges Prayers For Bello, Leads Kogi Muslims In Prayer On Mount Arafah   Kogi State Muslims to this year’s hajj have been urged to make the Almighty Allah the centre of their activities in this World.  The Executive Chairman of the Kogi State Hajj Commission,Shaikh Luqman Imam Abdullahi gave the admonition on Tuesday in a sermon he delivered after leading the pilgrims  in the two complusory  congregational prayers on Mount Arafah.  In his sermon, the Chairman strongly admonished the congregation to always be conscious of the Almighty ALLAH in their daily activities.  He also urged them to always thank Him for enabling them to be part of this all important  spiritual journey.  Imam Abdullahi further urged them to critically remember their parents, family, the  Governor of the State Alhaji Yahaya Bello, leaders at levels, the Ummah and others in their fervent prayers.   He advised them to conduct themselves very well during the remaining part of their stay in the Kingdom and assured them of the Commission’s commitment to their welfare.   He then prayed for the state and all its leaders.  Today Tuesday, the 9th Dhul-Hijjah,1444H/27th June 2023, is the Day of Arafah.  While giving updates on the hajj activities, the state Amirul Hajj, Alhaji Zakariyahu Aliyu Abubakar (Zaak) said Kogi State pilgrims arrived and stayed at Mount Arafah till sunset as a significant pillar of Hajj rites.   ” Part of the day’s activities is the combination of two salat which was led by Shaikh Luqman Imam Abdullahi , Executive Chairman, Kogi State Hajj Commission.  “The Kogi State Pilgrims to this year’s Hajj have started the performance of real Hajj rites by fully assuming the Hajj costume known as Ihram on Monday, 8th Dhul-Hijjah 1444H/26th June, 2023.   “They will remain in the attire for the performance of other Hajj rites such as staying at Arafat, stoning the symbolic position of Shaitan where it was desuading Prophet Ibrahim Alayhi Sallam in disobeying the Almighty ALLAH to offer his only son, Ismail as at then as a sacrifice, slaughtering of an animal and shaving of the hair or trimming the hair by women.   “After completing all these, the pilgrims are expected to come out of ihram and enjoy a temporary freedom from certain restrictions until they complete the Hajj rites at Makkah by performing the Hajj circumumbulation known as Tawaf and the movement b

Hajj 2023 : 719 Kogi Pilgrims Return Home Safely

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu Women
No Result
View All Result

Highlights

FG Empowers 3,700 Women With Tricycles

Police Arrest Ondo Traditional Ruler For Abducting, Raping 12-year-old girl

President Tinubu Signs Tax Reform Bills Into Law

INEC Fixes August 16 For Conduct Of Bye – elections In 12 States

Prison Decongestion : 174 Inmates Regain Freedom In Oyo

Gov. Ododo Restates Support For Welfare Of Corps Members Serving In Kogi

Trending

Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX
Business

Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX

by Vital News
June 26, 2025
0

The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has praised the President/Chief...

GIMP – Nigeria Urges FG To Strengthen Religious Tolerance Policies To Promote National Unity

Guild Of Interfaith Media Practitioners Congratulates Muslims On New Hijrah Year

June 26, 2025
Kwara To Administer Drug Test On 1,800 Newly Recruited Teachers

13 Years After Existence, Kwara Dissolves Harmony Holdings

June 26, 2025
FG Empowers 3,700 Women With Tricycles

FG Empowers 3,700 Women With Tricycles

June 26, 2025
IGP Reiterates Ban On Public Parade Of Suspects

Police Arrest Ondo Traditional Ruler For Abducting, Raping 12-year-old girl

June 26, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX June 26, 2025
  • Guild Of Interfaith Media Practitioners Congratulates Muslims On New Hijrah Year June 26, 2025
  • 13 Years After Existence, Kwara Dissolves Harmony Holdings June 26, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In