Nigeria’s FX supply climbs to $8.94bn

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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).

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

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

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

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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.

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

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

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

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

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This represents a 13.81 per cent increase.

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

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

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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.

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

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

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