Nigeria's Net Forex Inflow Drops 18.3% to $48.1 Billion in First Nine Months
Nigeria's net foreign exchange (forex) inflow declined significantly by 18.3 per cent year-on-year (YoY) to $48.1 billion in the nine months ended September 2025, down from $58.8 billion in the corresponding period of 2024, according to data from the Central Bank of Nigeria (CBN). The reduction in net inflows stems primarily from a sharper 15 per cent YoY decrease in total forex inflows, which fell to $83.71 billion from $99.44 billion in the same period the previous year. This outweighed a more moderate 12.2 per cent YoY reduction in outflows, which dropped to $35.65 billion from $40.61 billion. Despite the overall downturn, there were signs of recovery in the third quarter (Q3) of 2025, with net forex inflow rebounding by 20 per cent quarter-on-quarter (QoQ). This suggests potential stabilization or improvement in later periods, possibly influenced by ongoing forex market reforms, increased non-oil inflows, and efforts to boost investor confidence. The decline occurs amid broad...