The Tinubu Stakeholders Forum (TSF) has highlighted a sharp rise in autonomous foreign exchange inflows as evidence that Nigeria is steadily reducing its reliance on crude oil revenue, external borrowing, and Central Bank interventions.
In a statement issued by TSF Chairman Ahmad Sajoh and Secretary Danjuma Sada, the group reported that autonomous FX inflows reached $70.54bn in 2025—a 25.12% increase from the $56.38bn recorded in 2024. Autonomous channels accounted for 64.21% of the country’s total $109.86bn FX inflows for the year.
Market Consolidation and Increased Liquidity
The group attributed the growth to key policy interventions implemented by the Central Bank of Nigeria under Governor Olayemi Cardoso.
Key drivers cited in the report include:
- Structural Market Reforms: Consolidation of FX windows, implementation of a willing-buyer, willing-seller framework, and the rollout of the Electronic Foreign Exchange Matching System.
- Backlog Clearance: Resolution of the verified $7bn foreign exchange backlog, alongside tighter regulation of Bureau de Change operators.
- Non-Oil Sector Growth: Increased capital importation, over-the-counter market transactions, and stricter enforcement of export proceeds repatriations.
Shift Away from Debt and Interventions
According to TSF, direct inflows through the Central Bank fell by 2.08% to $39.32bn in 2025, primarily due to reduced reliance on foreign debt instruments and FX swap arrangements.
While aggregate FX outflows rose to $49.05bn—reflecting higher commercial activity and debt service obligations—net FX inflows grew from $60.81bn, strengthening Nigeria’s overall balance-of-payments position.
The forum called on the federal government to sustain the momentum by streamlining trade logistics, incentivizing non-oil exporters, and expanding domestic production capacity to protect the naira and maintain foreign reserve stability.
Add Comment