Nigeria records $109.86bn FX inflow in 2025, net inflow rises to $60.81bn
Nigeria recorded total foreign exchange inflows of $109.86 billion in 2025, up 13.81% from $96.53 billion in 2024, according to the Central Bank of Nigeria’s 2025 Annual Report. Outflows rose 27.83% to $49.05 billion, yielding a net inflow of $60.81 billion, compared with $58.16 billion the previous year. The CBN said autonomous sources—mainly non-oil exports and over-the-counter capital inflows—accounted for 64.21% of total inflows, rising 25.12% to $70.54 billion, while CBN-mediated inflows slipped 2.08% to $39.32 billion. On the outflow side, autonomous channels jumped 164.84% to $16.26 billion, while CBN outflows rose modestly to $32.79 billion. Overall FX utilisation jumped 59.36% to $42.83 billion, with visible imports accounting for $18.76 billion (43.8%); industrial sector imports took the largest share at 42.11% of visible imports, followed by oil (25.91%), manufactured goods (15.64%) and food (10.51%). The data shows autonomous channels are becoming the dominant source of foreign exchange liquidity. The rise in autonomous inflows suggests growing confidence in Nigeria’s non-oil export sectors and private capital inflows, while the surge in autonomous outflows points to rising demand for foreign currency for services, travel, and imports not captured under the official window. What should you know or do? With autonomous sources now driving most FX inflows, businesses relying on official CBN channels may need to explore alternative sources such as over-the-counter markets or non-oil export receipts to secure foreign currency.