Nigeria recorded total foreign exchange (FX) inflows of $109.86 billion in 2025, representing a 13.81% increase from $96.53 billion recorded in 2024.
This is according to the Central Bank of Nigeria (CBN) in its 2025 Annual Report and Statement of Accounts.
The apex bank said aggregate FX outflow also increased during the year, rising by 27.83% to $49.05 billion from $38.37 billion, resulting in a net FX inflow of $60.81 billion, compared with $58.16 billion in 2024.
What the report is saying
The CBN said the increase in total FX inflow was mainly driven by autonomous sources, which accounted for 64.21% of total inflows in 2025.
The bank said inflows through autonomous sources rose by 25.12% to $70.54 billion from $56.38 billion in 2024, while inflows through the CBN declined slightly.
- “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 apex bank noted.
The decline in CBN inflows was attributed mainly to lower receipts from government debt and FX swaps.
Autonomous FX inflows increased largely due to higher non-oil export receipts and over-the-counter purchases, particularly capital importation.
The economy recorded a net inflow of $54.28 billion through autonomous sources, compared with $50.24 billion in 2024, while the CBN recorded a net inflow of $6.52 billion.
The CBN said the increase in overall net FX inflow reflected the stronger contribution of autonomous sources to foreign exchange liquidity during the year
More Insights
FX outflows also increased in 2025, with autonomous channels recording the sharpest rise during the period.
- Outflow through the CBN increased by 1.74% to $32.79 billion from $32.23 billion, while outflow through autonomous channels rose by 164.84% to $16.26 billion.
- The CBN said aggregate FX utilisation by economic sectors also increased significantly during the year, driven by higher invisible imports.
- Total FX utilisation increased by 59.36% to $42.83 billion from $26.88 billion in 2024.
- Visible imports accounted for $18.76 billion, or 43.80% of total FX utilisation, compared with $15.62 billion in 2024.
- Industrial sector imports accounted for the largest share of visible import FX utilisation at 42.11%.
- Oil sector imports accounted for 25.91%, followed by manufactured products at 15.64% and food products at 10.51%.
The transport, mineral and agricultural sectors accounted for 3.78%, 1.04% and 1.00%, respectively, of FX utilised for visible imports.
What you should know
The latest CBN data shows that autonomous sources became an increasingly important channel for FX inflows into Nigeria in 2025, accounting for nearly two-thirds of total inflows.
Nairametrics previously reported that data released by the National Bureau of Statistics show Nigeria attracted a total capital importation of $11.1 billion in the second and third quarters of 2025.
The agency also reported that Nigeria recorded a total capital importation of $6.44 billion in the fourth quarter of 2025.(Nairametrics)
