A TEENAGE YOUNG MAN SUDDENLY GOT UP AND RAN OUT OF HIS BEST FRIEND'S HOUSE, WITH NO SHOES ON. HE WAS NEVER SEEN ALIVE AGAIN. (PHOTO).
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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