Non-oil exports push autonomous FX inflows to $70.54bn in 2025, CBN report shows

Higher earnings from non-oil exports helped drive foreign exchange inflows from autonomous sources to $70.54bn in 2025, reinforcing the growing role of non-oil sectors in Nigeria’s external earnings. The Central Bank of Nigeria disclosed this in its 2025 Annual Report and Accounts.

Autonomous inflows jump 25%, now dominate FX supply

Autonomous FX inflows increased 25.12 per cent from $56.38bn in 2024. They accounted for 64.21 per cent of Nigeria’s total foreign exchange receipts of $109.86bn during the year.

The CBN said the increase was driven mainly by stronger non-oil export proceeds and higher over-the-counter foreign exchange purchases, particularly capital importation. Autonomous sources continued to dominate Nigeria’s FX supply as reforms in the foreign exchange market encouraged greater participation outside official channels.

CBN inflows drop 2% as swap transactions decline

Inflows through the CBN declined 2.08 per cent to $39.32bn in 2025, representing 35.8 per cent of total FX inflows. The decline was largely attributed to lower receipts from government debt and foreign exchange swap transactions.

The stronger performance from non-oil exports comes amid the CBN’s broader efforts to improve transparency, liquidity and price discovery in the foreign exchange market through reforms. These include the implementation of the willing buyer-willing seller framework and the introduction of the Nigeria Foreign Exchange Code.

Overall, Nigeria recorded net foreign exchange inflows of $60.81bn in 2025, up from $58.16bn a year earlier. Autonomous sources contributed a net inflow of $54.28bn.

The rise in autonomous FX inflows signals growing confidence in the market reforms and supports naira stability. For Nigerian businesses, it means more forex available outside official channels, which could ease pressure on the parallel market and improve price discovery.