WBANK : $12.4BN UNREPATRIATED OIL FUNDS ERODED NIGERIA EXTERNAL SURPLUS IN H1 – THISDAYLIVE

What happened: The World Bank said $12.4 billion in net errors and omissions, likely including unrepatriated oil export proceeds, offset much of Nigeria's external surplus in H1 2026. Why it matters: The World Bank said portfolio investment is now the main driver of reserve gains, leaving Nigeria exposed to sudden capital outflows if global conditions worsen. It flagged weak repatriation and low FDI, and called for better expenditure forecasting and a credible budget calendar.

$12.4bn unrepatriated oil funds eroded Nigeria's external surplus in H1.

$12.4bn unrepatriated oil funds eroded Nigeria's external surplus in H1. — impact context not separately stored; see What changed.