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Nigeria’s total foreign exchange inflows climbed to $109.86 billion in 2025, driven largely by stronger autonomous sources, while net FX inflows rose to $60.81 billion despite a sharp increase in outflows.
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Autonomous inflows accounted for more than 64 per cent of total FX receipts, reflecting higher non-oil exports, capital importation and over-the-counter purchases as private sector activity strengthened.
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The CBN said foreign exchange utilisation also surged during the year, with industrial imports accounting for the largest share of visible import demand amid increased economic activity.
July 29, (THEWILL) — Nigeria recorded foreign exchange inflows of $109.86 billion in 2025, representing a 13.81 percent increase from $96.53 billion recorded in 2024, as stronger private sector and non-oil inflows continued to support the country’s external liquidity.
The figures were contained in the Central Bank of Nigeria’s 2025 Annual Report and Statement of Accounts released on Tuesday.
The report also showed that aggregate foreign exchange outflows rose by 27.83 per cent to $49.05 billion from $38.37 billion in the previous year, resulting in a net FX inflow of $60.81 billion, compared with $58.16 billion recorded in 2024.
Autonomous inflows dominate FX earnings
According to the apex bank, autonomous sources remained the major driver of foreign exchange inflows during the year, accounting for 64.21 percent of total receipts.
Inflows through autonomous channels rose by 25.12 percent to $70.54 billion from $56.38 billion in 2024, supported largely by stronger non-oil export proceeds, higher capital importation and increased over-the-counter foreign exchange purchases.
By contrast, inflows through the CBN declined marginally by 2.08 percent to $39.32 billion, accounting for 35.8 percent of total inflows.
The bank attributed the decline mainly to lower receipts from government debt transactions and foreign exchange swap activities.
Overall, autonomous sources generated a net inflow of $54.28 billion during the year, compared with $50.24 billion in 2024, while the CBN recorded a net inflow of $6.52 billion.
The report noted that the stronger contribution from autonomous sources reflects the growing role of private sector activities in supplying foreign exchange to the Nigerian economy.
The report also showed that foreign exchange outflows increased significantly in 2025, particularly through autonomous channels.
Outflows through the CBN rose slightly by 1.74 percent to $32.79 billion from $32.23 billion recorded a year earlier, while autonomous outflows surged by 164.84 percent to $16.26 billion.
Foreign exchange utilisation across the economy also expanded sharply during the year, increasing by 59.36 percent to $42.83 billion from $26.88 billion in 2024.
Visible imports accounted for $18.76 billion, representing 43.80 percent of total FX utilisation, up from $15.62 billion recorded in the previous year.
The industrial sector remained the largest user of foreign exchange allocated for visible imports, accounting for 42.11 percent of total utilisation.
The oil sector followed with 25.91 percent, while manufactured products accounted for 15.64 percent. Food imports represented 10.51 percent, with the transport, mineral and agricultural sectors accounting for 3.78 percent, 1.04 percent and 1 percent respectively.
FX demand rises across key sectors
The latest CBN figures indicate that autonomous foreign exchange sources continued to strengthen their contribution to Nigeria’s external sector in 2025, helping sustain foreign exchange liquidity even as demand for imports and other foreign exchange obligations increased.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
