Non-oil Exports Boost Nigeria's FX Inflows to $71bn

In 2025, Nigeria's autonomous foreign exchange inflows reached $70.54 billion, marking a 25.12% increase from $56.38 billion in 2024, according to the Central Bank of Nigeria's 2025 Annual Report and Accounts. These inflows accounted for 64.21% of the country's total foreign exchange receipts of $109.86 billion.

The increase was primarily driven by stronger non-oil export proceeds and higher over-the-counter foreign exchange purchases, particularly in capital importation. The report indicates that autonomous sources have continued to dominate Nigeria's foreign exchange supply, aided by reforms in the foreign exchange market that encouraged greater participation outside official channels.

In contrast, inflows through the Central Bank of Nigeria declined by 2.08% to $39.32 billion, representing 35.8% of total FX inflows, attributed to lower receipts from government debt and foreign exchange swap transactions. The Central Bank's reforms aimed to improve transparency, liquidity, and price discovery in the foreign exchange market.