According to the Central Bank of Nigeria’s 2025 Statistical Bulletin, total FX utilisation increased by 91.1 per cent from the $26.65 billion recorded in 2024. The surge was driven by higher demand for both imports and invisible transactions.

Quarterly figures showed utilisation of $12.71 billion in the first quarter, $13.13 billion in the second, $12.01 billion in the third and $13.08 billion in the fourth. The second half of the year accounted for a significant share of the annual total.

Import-related transactions accounted for $19.94 billion of the 2025 utilisation, up from $15.54 billion in 2024. Invisible transactions rose more sharply, climbing from $11.11 billion to $30.99 billion over the same period.

Financial services remained the largest component of invisible transactions, increasing to $20.30 billion in 2025 from $10.76 billion the previous year. The data reflects stronger demand for foreign exchange across key sectors of the economy during the year.