Nigeria’s FX inflows rise 13.8% to $109.9bn as autonomous....

Nigeria’s total foreign exchange (FX) inflows rose by 13.81 per cent to $109.86 billion in 2025, driven largely by stronger inflows from autonomous sources, according to the Central Bank of Nigeria (CBN).

The apex bank disclosed in its 2025 Annual Report and Statement of Accounts that total FX inflows increased from $96.53 billion recorded in 2024, while aggregate FX outflows rose by 27.83 per cent to $49.05 billion from $38.37 billion.

As a result, the economy posted a net FX inflow of $60.81 billion, higher than the $58.16 billion recorded in the previous year.

The report showed that autonomous sources accounted for 64.21 per cent of total foreign exchange inflows during the year, reinforcing their growing role in supporting Nigeria’s external liquidity.

According to the CBN, FX inflows through autonomous sources increased by 25.12 per cent to $70.54 billion in 2025 from $56.38 billion in 2024, largely driven by higher non-oil export receipts and stronger over-the-counter purchases, particularly capital importation.

In contrast, inflows through the CBN declined by 2.08 per cent to $39.32 billion, representing 35.8 per cent of total inflows, compared with the previous year.

The apex bank attributed the decline to lower receipts from government debt and foreign exchange swap transactions.

The economy recorded a net inflow of $54.28 billion through autonomous sources, up from $50.24 billion in 2024, while the CBN recorded a net inflow of $6.52 billion.

“The increase in overall net FX inflow reflected the stronger contribution of autonomous sources to foreign exchange liquidity during the year,” the report stated.

Foreign exchange outflows also increased during the review period, with autonomous channels recording the sharpest growth.

Outflows through the CBN rose marginally by 1.74 per cent to $32.79 billion from $32.23 billion, while outflows through autonomous channels surged by 164.84 per cent to $16.26 billion.

The CBN also reported a sharp increase in foreign exchange utilisation across key sectors of the economy.

Total FX utilisation rose by 59.36 per cent to $42.83 billion in 2025 from $26.88 billion in 2024, largely driven by higher invisible imports.

Visible imports accounted for $18.76 billion, representing 43.80 per cent of total FX utilisation, compared with $15.62 billion recorded in the previous year.

The industrial sector accounted for the largest share of FX utilised for visible imports at 42.11 per cent, followed by the oil sector at 25.91 per cent, manufactured products at 15.64 per cent, and food products at 10.51 per cent.

The transport, mineral and agricultural sectors accounted for 3.78 per cent, 1.04 per cent and 1.00 per cent, respectively.

The latest report underscores the growing importance of market-driven FX inflows in supporting Nigeria’s external sector, as autonomous sources contributed nearly two-thirds of total inflows during the year.

The development aligns with recent National Bureau of Statistics data showing Nigeria attracted $11.1 billion in capital importation during the second and third quarters of 2025, while a further $6.44 billion was recorded in the fourth quarter.