The Tinubu Media Support Group (TMSG) has described the increase in Nigeria’s current account surplus from $4.49 billion in the first quarter of 2026 to $7.54 billion in the second quarter as further evidence of improving economic stability and external-sector performance.
The group said the 67.9 per cent quarter-on-quarter increase reflected stronger foreign exchange earnings, higher export receipts and increased remittance inflows.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, TMSG said the latest figures indicated a strengthening of Nigeria’s external position since the administration of President Bola Tinubu began implementing its economic reforms.
“There is no longer any doubt whatsoever about Nigeria’s stronger and highly improved foreign exchange position since President Bola Tinubu assumed office with a strong determination to turn the economy around,” the group said.
TMSG noted that the current account surplus had increased significantly alongside improvements in the country’s external reserves, describing the development as an indication of greater stability in Nigeria’s external position.
According to provisional Balance of Payments data released by the Central Bank of Nigeria (CBN), the current account surplus rose to $7.54 billion in Q2 2026 from $4.49 billion in Q1 and $5.17 billion in the corresponding quarter of 2025.
The group said the increase was driven principally by a stronger goods account, which recorded a surplus of $10.12 billion in Q2, compared with $5.96 billion in Q1.
Total exports also increased to $20.08 billion during the quarter from $15.56 billion in Q1. Crude oil export receipts rose by 15.78 per cent to $9.39 billion, while gas exports increased by 40.15 per cent to $3.63 billion.
Receipts from refined petroleum products recorded a 66.24 per cent increase to $3.94 billion, while non-oil exports rose by 25.30 per cent to $3.12 billion.
TMSG also pointed to increased remittance inflows as another factor supporting the current account position, noting that personal transfers, including workers’ remittances from Nigerians in the diaspora, rose by 9.81 per cent to $5.82 billion in Q2.
The group said the figures demonstrated a steady improvement in Nigeria’s balance of payments and external earnings, particularly as stronger export receipts helped to offset increased outflows in services and primary income.
“We dare say that this is as a result of the economic policies of the President Tinubu administration which incidentally opposition elements have been painting in bad light in the run-up to the 2027 general elections,” TMSG said.
The group maintained that the latest economic data should encourage Nigerians to pay greater attention to measurable economic indicators when assessing developments in the country.
It also urged citizens to distinguish between verified economic data and political claims ahead of the 2027 general elections.
