Nigeria, April 9 -- The Central Bank of Nigeria has said Nigeria recorded a balance of payments surplus of $6.83 billion in 2024, ending three years of deficits.

The bank disclosed this Tuesday in a statement signed by its Acting Director of Corporate Communications, Hakama Ali.

The balance of payments is a statistical statement that summarises all economic transactions between a country's residents and non-residents during a specific period. It helps countries monitor their international monetary transactions, assess their economic performance, and make informed policy decisions.

Balance of payment also provides insights into a country's economic strength and its ability to compete in the global market.

According to the CBN, in 2023,...