Nigeria’s FX supply climbs to $8.94bn

Nigerian foreign exchange market. Photo: The Sun

Nigeria’s foreign exchange supply rose by 20.5 per cent to $8.94bn in 2025 from $7.43bn in 2024, according to the Central Bank of Nigeria (CBN).

The figures are contained in the CBN’s 2025 Statistical Bulletin.

The increase means Nigeria supplied about $1.51bn more in foreign exchange in 2025 than it did the previous year.

Monthly data showed that FX supply was low at the start of the year before rising sharply in March and April.

Supply stood at $590.64m in January and $607.63m in February. It then increased to $1.04bn in March and peaked at $1.65bn in April.

Supply fell to $838.93m in May and $676.31m in June before rising to $759.02m in July.

It stood at $677.84m in August and fell to $399.80m in September.

October recorded the lowest supply of the year at $150.10m. Supply later recovered to $638.38m in November and $910.73m in December.

• SEC moves to tighten online forex trading rules
• N2tn goods unsold as consumer spending falls
• Fiscal, monetary coordination deepens as Nigeria battles inflation

The CBN also reported that total foreign exchange inflows into Nigeria increased to $109.86bn in 2025 from $96.53bn in 2024.

This represents a 13.81 per cent increase.

However, FX outflows also increased during the year, rising by 27.83 per cent to $49.05bn from $38.37bn.

Nigeria therefore recorded a net FX inflow of $60.81bn in 2025, compared with $58.16bn in 2024.

It must be noted that the CBN’s $8.94bn FX supply figure is different from the broader $109.86 billion inflow figure because the two datasets measure different aspects of foreign exchange activity.

The CBN data also do not provide a detailed breakdown of the sources of the $8.94bn supplied during the year.

Nigeria’s foreign exchange market remained volatile in 2026 despite the improvement in external liquidity.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.