Nigeria’s foreign exchange supply jumped 20.5 percent to $8.94 billion in 2025, up from $7.43 billion in 2024, according to the Central Bank of Nigeria (CBN).
The figures are detailed in the CBN’s 2025 Statistical Bulletin.
This translates to an additional $1.51 billion in FX supplied compared with the prior year.
Monthly data show that FX supply started the year sluggishly before gaining momentum in March and April.
Supply was $590.64 million in January and $607.63 million in February, rising to $1.04 billion in March and peaking at $1.65 billion in April.
It dipped to $838.93 million in May and $676.31 million in June, then recovered to $759.02 million in July.
August recorded $677.84 million before falling to $399.80 million in September.
October saw the lowest supply of the year at $150.10 million, followed by a rebound to $638.38 million in November and $910.73 million in December.
The CBN also reported that total foreign exchange inflows rose to $109.86 billion in 2025 from $96.53 billion in 2024, a 13.81 percent increase.
However, FX outflows also grew, climbing 27.83 percent to $49.05 billion from $38.37 billion.
Nigeria recorded a net FX inflow of $60.81 billion in 2025, compared with $58.16 billion in 2024.
It should be noted that the CBN’s $8.94 billion FX supply figure differs from the broader $109.86 billion inflow figure, as the two datasets capture different aspects of foreign exchange activity.
The CBN data also do not provide a detailed breakdown of the sources behind the $8.94 billion supplied during the year.
Nigeria’s foreign exchange market remained volatile in 2026 despite the improvement in external liquidity.
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