Nigeria's FX utilisation hits $50.93bn in 2025, highest since 2019
Nigeria’s foreign exchange utilisation surged to $50.93 billion in 2025, the highest annual level since 2019, according to the Central Bank of Nigeria’s 2025 Statistical Bulletin. This marks a 91.1% increase from $26.65 billion in 2024, driven by stronger demand for both imports and invisible transactions. Import-related FX use rose to $19.94 billion (up from $15.54 billion), while invisible transactions jumped to $30.99 billion (from $11.11 billion). Financial services accounted for $20.30 billion of invisible flows, business services $5.45 billion, and other services $3.51 billion. Within imports, industrials led at $8.60 billion, followed by manufactured goods ($2.69 billion), food products ($2.36 billion), and oil ($4.73 billion). The data also shows Nigeria recorded $109.86 billion in FX inflows and $49.05 billion in outflows in 2025, yielding a net inflow of $60.81 billion. As of September 3 2026, external reserves stood at $54.08 billion, and the naira traded at N1,320/$ on September 7. What does this mean for you? With FX demand rising and the naira at N1,320/$, will you review your import cost budgets, consider hedging strategies, or adjust pricing to mitigate foreign-exchange risk?