NIGERIA POSTS $6.83BN BALANCE OF PAYMENTS SURPLUS IN 2024 — CBN. (PHOTO)

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 Nigeria Posts $6.83bn Balance of Payments Surplus in 2024 — CBN The Central Bank of Nigeria (CBN) has announced a $6.83 billion Balance of Payments surplus for 2024, reversing deficits recorded in the previous two years. In a statement on Wednesday, the apex bank attributed the surplus to macroeconomic reforms, improved trade performance, and stronger investor confidence. Key highlights include a $13.17 billion trade surplus, a 48.3% surge in gas exports, and $20.93 billion in personal remittances. Portfolio investments more than doubled to $13.35 billion, while foreign reserves rose by $6 billion to $40.19 billion. Despite a 42.3% drop in FDI, the CBN said the overall outlook remains strong, citing improved data accuracy and the success of FX market reforms.
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PRESIDENT BUHARI COMMISERATES WITH VICTIMS OF LAGOS AUTO SPARE PARTS MARKET.(PHOTO).#PRESS RELEASE.

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PRESIDENT BUHARI COMMISERATES WITH VICTIMS OF LAGOS AUTO SPARE PARTS MARKET
 

President Muhammadu Buhari has learned with deep sadness the death of a 65-year-old security guard, the loss of personal property and means of livelihood of some hardworking Nigerians at the Akere Spare Parts market in the Apapa Ajegunle area of Lagos State.
 
The President's deepest sympathies are with the traders and their families, who bear the brunt of this unfortunate incident and are at crossroads of what to do after this temporary setback.
 
The President is equally concerned that a similar fire incident occurred at the popular Balogun market a few weeks ago, calling on relevant authorities to take precautions to stem the tide.
 
While the full extent and cause of the damage is being assessed, President Buhari commends the Lagos State Fire Service for responding to the incident, salvaging a nearby filling station with a 33,000 litres PMS tanker, amongst other adjoining buildings.
 
Garba Shehu
Senior Special Assistant to the President
(Media & Publicity)
March 8, 2023


 

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