(DDM) – Nigeria’s foreign exchange position recorded a notable contraction as fresh data showed weaker net inflows into the economy.
DDM gathered that net forex inflow into Nigeria dropped significantly within the first nine months of 2025.
The figures indicated an 18.3 percent year-on-year decline compared with the same period in 2024.
Net inflows fell to about 48.1 billion dollars from 58.8 billion dollars previously.
Analysts linked the fall to reduced foreign currency supply into the economy.
They noted that lower inflows outweighed the reduction recorded in outflows.
Total foreign exchange inflows declined by roughly 15 percent year-on-year.
Foreign exchange outflows also decreased, but by a smaller 12.2 percent margin.
Central Bank data showed total inflows reached 83.71 billion dollars in nine months.
The same period in 2024 recorded higher inflows of 99.44 billion dollars.
Outflows stood at 35.65 billion dollars in the 2025 review period.
Outflows were higher at 40.61 billion dollars in the corresponding 2024 period.
Inflows routed through the Central Bank fell sharply during the review window.
Such inflows declined by about 30 percent to 28.72 billion dollars.
They previously stood around 40.15 billion dollars a year earlier.
Autonomous sources also recorded weaker foreign exchange inflows.
Those sources declined by 6.8 percent to 54.99 billion dollars.
They had earlier delivered about 59.29 billion dollars.
On the outflow side, CBN-related forex outflows reduced considerably.
They dropped by 18.8 percent to 25.68 billion dollars.
A year earlier, they stood at 32.16 billion dollars.
However, autonomous outflows moved in the opposite direction.
They rose by about 18 percent year-on-year.
They increased to 9.97 billion dollars from 8.44 billion dollars.
Net forex flow through the Central Bank weakened dramatically.
It declined by nearly 62 percent to 3.04 billion dollars.
It previously reached 7.99 billion dollars in 2024.
Autonomous net flows also recorded a noticeable reduction.
They fell by 11.5 percent to 45.02 billion dollars.
They had been around 50.85 billion dollars before.
Diaspora remittances contributed to the softer autonomous supply.
Inflows from International Money Transfer Operators weakened.
IMTO inflows declined by 15.7 percent to 3.22 billion dollars.
They had reached 3.82 billion dollars in the prior year.
The decline appeared consistently across all three quarters.
First quarter inflows dropped by 18 percent year-on-year.
They settled near 888 million dollars in that quarter.
Second quarter inflows slipped by 6.5 percent.
They delivered about 1.18 billion dollars.
Third quarter inflows showed the sharpest contraction.
They fell by roughly 22 percent year-on-year.
They settled around 1.15 billion dollars.
Experts said the trend pressured overall forex availability.
They added that policy incentives have yet to fully reverse the pattern.
Quarterly movements, however, showed a mixed performance.
Net inflow declined quarter-on-quarter in the first two quarters.
It fell by 6.4 percent in Q1.
It also dropped by 4.1 percent in Q2.
The pattern changed in the third quarter.
Net forex inflow rebounded by 20 percent quarter-on-quarter.
The Central Bank attributed the rebound to lower outflows.
Net inflow rose to about 17.46 billion dollars in Q3.
It stood at 14.46 billion dollars in the previous quarter.
Aggregate inflow in Q3 declined slightly by 4.17 percent.
It reached 26.27 billion dollars.
Outflows dropped more sharply by 32.01 percent.
They settled near 8.80 billion dollars.
Economic watchers say the figures send mixed signals.
Some see vulnerability in Nigeria’s external sector buffers.
Others see room for recovery if inflows improve.
Investors continue to monitor liquidity and policy direction closely.
Future performance may depend on remittances, oil earnings, and confidence.
