Nigeria’s foreign exchange supply rose 20.5% to $8.94 billion in 2025, up from $7.43 billion recorded in 2024, according to the Central Bank of Nigeria’s (CBN) 2025 Statistical Bulletin.
The increase represents an additional $1.51 billion in annual FX supply, although the CBN data do not provide a sector-by-sector breakdown of the sources of the foreign exchange.
Monthly figures showed significant fluctuations throughout 2025.
FX supply stood at $590.64 million in January and $607.63 million in February before rising sharply to $1.04 billion in March and $1.65 billion in April.
Supply subsequently fell to $838.93 million in May and $676.31 million in June, before rising to $759.02 million in July and $677.84 million in August.
September recorded $399.80 million, while October posted the year’s lowest monthly figure at $150.10 million.
Inflows recovered in the final two months, reaching $638.38 million in November and $910.73 million in December.
FX inflows hit $109.86bn
The increase in CBN-recorded FX supply came alongside much larger foreign exchange flows into the country.
Total FX inflows reached $109.86 billion in 2025, up 13.81% from $96.53 billion in 2024.
Aggregate FX outflows also increased, rising 27.83% to $49.05 billion from $38.37 billion, leaving a net FX inflow of $60.81 billion, compared with $58.16 billion in 2024.
Nigeria’s FX utilisation also rose to $50.93 billion in 2025, the highest annual level since 2019.
The latest figures come as Nigeria’s external reserves crossed $54 billion in September 2026, reaching $54.08 billion on September 3.
The data point to increased foreign exchange activity and availability across the economy, although the CBN’s FX supply series does not show how much came from specific sectors or sources.
