Nigeria’s Payments for Professional Services Rise 39%

Nigeria’s payments for professional and other business services rose by 39.04 per cent to $1.81 billion in the second quarter of 2026, as increased expenditure on technical and consulting services contributed to a widening deficit in the country’s services account.
According to the Central Bank of Nigeria (CBN) Economic Report for the second quarter of 2026, payments for other business services increased from $1.30 billion in the first quarter, reflecting higher expenditure on technical, trade-related and professional consulting services.
The development contributed to an 18.29 per cent increase in Nigeria’s total services payments to $5.84 billion during the review period, while the ...