Nigeria’s net foreign exchange (forex) inflow rose by 33 per cent to $20.3 billion in the first quarter (Q1) of 2026, reflecting stronger foreign currency earnings and improved investor confidence in the country’s external sector. The latest figures were contained in data released by the Central Bank of Nigeria (CBN).
According to the CBN, the increase was driven by higher inflows from foreign portfolio investments, remittances, oil exports and other autonomous sources, alongside measures introduced to improve liquidity in the foreign exchange market. The report noted that gross forex inflows grew significantly during the review period, while outflows remained relatively moderate, resulting in the strong rise in net inflows.
The improved foreign exchange position comes amid ongoing reforms by the Federal Government and the CBN aimed at enhancing exchange rate stability, attracting foreign investment and rebuilding market confidence. Analysts said the higher inflows could provide additional support for the naira, improve external reserves and strengthen the country’s capacity to meet international payment obligations.
Economists, however, cautioned that sustaining the positive momentum would depend on continued growth in non-oil exports, stable crude oil production, increased foreign direct investment and consistent monetary and fiscal policies. They also stressed the need to maintain transparency in the foreign exchange market to preserve investor confidence over the long term.
The CBN expressed optimism that ongoing economic reforms would further improve forex liquidity and support macroeconomic stability throughout the year. The bank said it remains committed to policies that encourage foreign capital inflows, deepen the foreign exchange market and promote sustainable economic growth in Nigeria.
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