FX Supply Rises 20.5% to $8.94bn in 2025 – CBN
Nigeria’s foreign exchange supply rose by 20.5% to $8.94 billion in 2025, up from $7.43 billion in 2024, according to the Central Bank of Nigeria’s Statistical Bulletin.
The increase was driven by stronger monthly inflows in several periods, though annual supply remained below earlier historical levels. A sectoral breakdown of sources was not provided, making it unclear which segments contributed most to the rise.
Monthly data show supply started weak at $590.64m in January and $607.63m in February, before climbing to $1.04bn in March and $1.65bn in April. It moderated mid-year, hitting a low of $150.10m in October, before recovering to $910.73m in December.
The $8.94bn total represents a $1.51bn increase year-on-year. However, FX utilisation far outpaced supply, rising to $50.93bn in 2025 — the highest since 2019 — underscoring the scale of demand in Nigeria’s foreign exchange market.
CBN data also showed total FX inflows reached $109.86bn in 2025, up 13.8% from 2024, while outflows rose 27.8% to $49.05bn. Net inflows stood at $60.81bn compared with $58.16bn the previous year.
Foreign investment added another source of external financing, with Nigeria attracting $11.1bn in capital importation during Q2 and Q3 2025, according to the National Bureau of Statistics.
The increase in FX supply and inflows coincided with stronger reserves, which crossed $54bn in September 2026 — the highest since 2008 — despite volatility in the Nigerian Foreign Exchange Market, where weekly turnover fluctuated sharply.