LAGOS, July 29 – Nigeria’s total foreign exchange (FX) inflows rose 13.81% to $109.86 billion in 2025, up from $96.53 billion recorded in 2024, according to the Central Bank of Nigeria (CBN).
The figures, published in the Central Bank of Nigeria’s 2025 Annual Report and Statement of Accounts, also showed that aggregate FX outflows increased to $49.05 billion from $38.37 billion a year earlier. As a result, the country recorded a net foreign exchange inflow of $60.81 billion, compared with $58.16 billion in 2024.
According to the apex bank, the improvement in foreign exchange inflows was driven primarily by autonomous sources, which accounted for 64.21% of total FX inflows during the year.
The Central Bank of Nigeria reported that autonomous inflows increased by 25.12% to $70.54 billion, up from $56.38 billion in 2024, supported by stronger non-oil export receipts, increased over-the-counter foreign exchange purchases, and higher capital importation.
Meanwhile, foreign exchange inflows through the central bank declined marginally.
According to the report, “FX inflow through the Bank decreased by 2.08 per cent to US$39.32 billion and accounted for 35.8 per cent of total inflow.”
The Central Bank of Nigeria attributed the decline largely to lower receipts from government debt and foreign exchange swap transactions.
The report showed that autonomous channels generated a net FX inflow of $54.28 billion, compared with $50.24 billion in the previous year, while the CBN recorded a net inflow of $6.52 billion.
According to the bank, the stronger contribution from autonomous sources reflects the growing role of market-driven foreign exchange inflows in supporting liquidity within Nigeria’s FX market.
Foreign exchange outflows also increased during the year, with the sharpest growth recorded through autonomous channels.
Outflows through the CBN rose 1.74% to $32.79 billion, while outflows through autonomous sources surged 164.84% to $16.26 billion.
The report also highlighted a significant increase in foreign exchange utilisation across the economy.
Total FX utilisation climbed 59.36% to $42.83 billion, compared with $26.88 billion in 2024, largely driven by higher demand for invisible imports, including services and other non-merchandise transactions.
Foreign exchange allocated for visible imports reached $18.76 billion, representing 43.80% of total FX utilisation, up from $15.62 billion the previous year.
Among visible imports, the industrial sector accounted for the largest share of foreign exchange utilisation at 42.11%, followed by the oil sector with 25.91%. Manufactured products represented 15.64%, while food imports accounted for 10.51%.
The transport, mineral and agricultural sectors accounted for 3.78%, 1.04% and 1.00%, respectively.
The CBN said the overall increase in net foreign exchange inflows underscores the growing importance of autonomous foreign exchange sources in supporting market liquidity, even as demand for foreign currency continued to rise across key sectors of the Nigerian economy.
