Nigeria's Economy: A Record N6.95 Trillion Trade Surplus Under Presidency

Thursday, 12 September 2024, 11:39

Nigeria's economy showcases a significant achievement with a N6.95 trillion trade surplus. President Bola Tinubu's reforms are driving positive economic shifts. The National Bureau of Statistics' report affirms the growth trajectory in the second quarter of 2024. Enhancing fiscal and tax policies will further solidify these gains.
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Nigeria's Economy: A Record N6.95 Trillion Trade Surplus Under Presidency

Nigeria's Economy Achieves N6.95 Trillion Trade Surplus

In a remarkable announcement, President Bola Tinubu highlighted the N6.95 trillion trade surplus achieved in Nigeria's economy during the second quarter of 2024. This impressive surplus showcases the effectiveness of his administration's reforms, which aim to create a more vigorous economy and set the stage for prosperity.

Positive Economic Shifts Documented

The National Bureau of Statistics (NBS) report indicates that Nigeria's trade balance has significantly improved over the past year, reflecting strong export performance. Onanuga, the Special Adviser to the President, emphasized the importance of this development, reinforcing the government's commitment to enhancing fiscal policies.

  • Nearly 100% oversubscription of the first $500 million domestic bond.
  • Half-year revenue reported at N9.1 trillion.
  • Continued consolidation of reform gains is assured.

As Nigeria's economy continues to show promise, the leadership is dedicated to implementing further tax measures that will sustain this positive trend.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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