Let’s be real, for a long time, reading about Nigeria’s economy felt like checking your bank balance after a long weekend of 'Detty December.' It was mostly red. But according to the latest numbers from the Central Bank of Nigeria (CBN), the story is changing.

Nigeria has officially moved from a 'deficit' (owing money) to a massive surplus (having extra cash). Here is the breakdown of how the economic reforms are finally bringing 'urgent 2k' (in billions of dollars) into the economy.

The 'Balance of Payments' miracle

In simple English, Balance of Payments (BOP) is just the country’s checking account with the rest of the world.

Before, we were spending more dollars importing things than we were earning from selling things. Deficit! Now in Q3 of 2025, we recorded a $4.60 billion surplus (Data for the fourth quarter has typically not been finalized or released yet as of mid-January 2026. These reports usually lag by a few months).

Why the turnaround?

Firstly, we stopped importing fuel as imports of refined petroleum dropped by 12.7%. We are finally refining our own petrol at home instead of paying foreign countries to do it for us. Secondly, we sold more oil as exports jumped to $15.24 billion, with refined products (petrol/diesel made in Nigeria) rising by a whopping 44%.

Third reason for the turnaround can be attributed to the influence of diaspora & foreign investors. Remember when foreign investors ran away because they couldn't get their dollars out? Well, they are back. Foreigners poured $2.51 billion into our financial markets because they trust the new system.

The Japa Squad (Nigerians in diaspora) also sent home $5.24 billion in just three months. That’s steady 'family support' keeping the economy oiled.

The Inflation Fever is Breaking

This is the part that affects the price of rice. CBN Governor Olayemi Cardoso confirmed that inflation has dropped for seven months straight; from a scary 34.6% down to 16.05% in October 2025. Food inflation also cooled down significantly.

What Does This Mean for You?

• Stronger Naira: With $42.77 billion now sitting in our Foreign Reserves (up from $37.81bn), the CBN has enough firepower to defend the Naira.

• Cheaper Goods: As we refine more fuel locally and import less, the cost of transport and goods should (eventually) stabilize.

• Jobs: The economy grew by 4.23% recently, the fastest in four years. More growth usually means more businesses hiring.

The Bottom Line

Nigeria may not be at the 'promised land' yet, but the days of bleeding dollars are over. We have stopped digging the hole and started filling it up. As Governor Cardoso put it, we have moved from 'crisis management' to 'sustainable recovery.'

So, take a chill pill; the economy is finally breathing!