Report Published: "Nigeria Shipping Report Q2 2013"
Nigeria benefits from having immense oil reserves, making it the leading African supplier of crude and keeping its current account surplus wide. BMI expects that on the back of continued strong exports - bolstered by the continued elevated price of oil - Nigeria's balance of payments position will remain healthy, with a current account surplus surpassing US$26bn, or about 7.5% of GDP, in 2013. The country is, therefore, well placed to withstand the global economic headwinds currently circling.
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