If you’ve been following the news lately, you’d know that 'FX' and 'Balance of Payments' usually sound like things that only people in expensive suits care about. But wait, there’s actually some good news in those big words that affects all of us.

According to a recent report from ThisDay, the Central Bank of Nigeria (CBN) has been doing some "extreme home makeover" on our economy, and the results are starting to show.

Here’s the simple breakdown of how Nigeria is moving from "I.O.U" to "Balance remaining":

The 'Bank Statement' is looking healthy

Imagine Nigeria's bank statement as your personal bank account for a moment. For a long time, Nigeria was spending more than it was making (that’s a deficit). But in the third quarter of 2025, we recorded a $4.60 billion surplus in our Balance of Payments. Meaning more money is coming into the country than going out. It’s like finally paying off your debts and seeing your savings account grow for the first time in years.

We’re selling more than just 'Crude'

For decades, Nigeria’s "business plan" was basically: Sell crude oil, buy petrol from abroad. (Pretty much like selling your flour to buy bread).But the game is changing. Thanks to domestic refineries finally kicking into gear, we are switching from being a "Net Importer" to a "Net Exporter" of refined petroleum. In Q3 2025 alone, our exports jumped to $15.24 billion.

The "Dollar backlog" is history

One of the biggest reasons investors were scared of Nigeria was the 'Backlog'. We owed people over $7 billion in FX, and they weren’t sure they’d get their money. Governor Olayemi Cardoso and his team at the CBN have cleared that $7 billion debt. They also stopped the habit of 'printing money' to fund government spending. By moving to a 'Willing Buyer, Willing Seller' model, they’ve made the FX market more like a transparent supermarket and less like a black market guessing game.

Diaspora money is flowing home

Our brothers and sisters abroad are sending more money home than ever (Remittances). The CBN has made it easier for this money to come through official channels, which helps boost our external reserves—which are projected to hit $51 billion by the end of 2026!

Why should you care?

When the country’s 'bank statement' is healthy, the Naira gets stronger, inflation starts to behave, and investors bring their businesses (and jobs!) to Nigeria.

The CBN reforms might have been a 'bitter pill' at the start, but the patient is finally waking up, walking, and getting ready to run. Nigeria is growing, and this time, the numbers are actually backing it up!