• About
  • Advertise
  • Contact
Sunday, June 1, 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

Nigeria To Host 2025 West Africa Economic Summit

Sidi Ould Tah Elected New President Of AfDB

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

National Sports Festival’s Impact on Ogun Economy Massive – Abiodun

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

Tinubu, Dangote Refinery And Mele Kyari’s Sack
Business

Nigeria To Host 2025 West Africa Economic Summit

May 31, 2025
Sidi Ould Tah Elected New President Of AfDB
Economy

Sidi Ould Tah Elected New President Of AfDB

May 29, 2025
President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC
Economy

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

May 29, 2025
National Sports Festival’s Impact on Ogun Economy Massive – Abiodun
Economy

National Sports Festival’s Impact on Ogun Economy Massive – Abiodun

May 27, 2025
We Are Better Off Together, President Tinubu To Malian Leader
Economy

Poverty Alleviation: TMSG Hails FG’s Fast-tracked Cash Transfer To 15 million Vulnerable Households

May 19, 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

Kogi, China Sign MOU On $60mln Smart Security Architecture

Kogi, China Sign MOU On $60mln Smart Security Architecture

3 years ago
Again, Dangote Industries Limited, Emerges Most Valuable Brand in Nigeria

No Fresh Case Filed Against NNPCL, Others – Dangote Clarifies

7 months ago
Oyo LG Chairmen Back Makinde’s Rejection Of Supreme Court Judgment On Autonomy, Opt Out Of ALGON

You Imposed Abimbola Owoade, We Didn’t Recommend Him As Alafin – Oyo Kingmakers To Makinde

5 months ago
Elections : Military, Security Agencies Always Under Pressure To Compromise – CDS Irabor

Military Probes Killing Of 60 Civilians In Zamfara Airstrike

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 Court Dangote death drugs Economy EFCC Election elections FG Fraud gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power rescue road Security Senate students Tinubu Women
No Result
View All Result

Highlights

Nigeria Governors’ Forum Mourns Death Of 22 Kano Athletes

Gender Biases : Expert Calls For Recognition Of Achievements Of Women Engineers

IGP Drags Former AIG Owohunwa, CPs Benneth Igweh, Ukachi Peter Opara To Court Over Age Falsification, Forgery

Tragedy As 22 members Of Kano Contingent To National Sports Festival In Abeokuta Perish In Crash

24 Kwara Students Become Hygiene Champions In Dettol, WBFA Campaign

Ademola Lookman Visits, Presents CAF Award To President Tinubu

Trending

Kwara Woman Battles Aggressive Breast Cancer, Appeals for N38 million Support For Treatment
Health

Kwara Woman Battles Aggressive Breast Cancer, Appeals for N38 million Support For Treatment

by Vital News
May 31, 2025
0

A 50-year-old housewife in Ilorin, Kwara State, Mrs Victoria Taiye Emmanuel, is in urgent need of financial...

Niger Flood Disaster : President Tinubu Orders NEMA, NEPC To Commence Operations

Niger Flood Disaster : President Tinubu Orders NEMA, NEPC To Commence Operations

May 31, 2025
Nigeria Governors’ Forum  Mourns Death Of 22 Kano Athletes

NSF : Abiodun Grieves Over Death Of 22 Kano Athletes

May 31, 2025
Nigeria Governors’ Forum  Mourns Death Of 22 Kano Athletes

Nigeria Governors’ Forum Mourns Death Of 22 Kano Athletes

May 31, 2025
Gender Biases : Expert Calls For Recognition Of Achievements Of Women Engineers

Gender Biases : Expert Calls For Recognition Of Achievements Of Women Engineers

May 31, 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

  • Kwara Woman Battles Aggressive Breast Cancer, Appeals for N38 million Support For Treatment May 31, 2025
  • Niger Flood Disaster : President Tinubu Orders NEMA, NEPC To Commence Operations May 31, 2025
  • NSF : Abiodun Grieves Over Death Of 22 Kano Athletes May 31, 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