The Tinubu Stakeholders Forum (TSF) has welcomed the latest data, indicating that Nigeria recorded a net foreign exchange (FX) inflow of $15.2 billion in the first quarter of 2025.
The group gave the commendation in a statement signed by its Chairman,Ahmad Sajoh and Secretary Afolabi Josiah.
The forum described this feat as a testament to the effectiveness of President Bola Ahmed Tinubu’s bold economic reforms.
The statement read in part : “The figures, presented at the Nigerian Investor Forum on the sidelines of the Spring Meetings of the World Bank/IMF in Washington DC, clearly show that Nigeria’s FX inflows rose to $28.92 billion in Q1 2025, a significant 18.68% increase compared to Q1 2024.
“Although, FX outflows also rose, the positive net balance of $15.2 billion underscores a strengthened FX liquidity position, with Nigeria now better equipped to meet market demand without heavy Central Bank interventions.
“For us, it is yet another indication that Nigeria’s foreign exchange landscape has been transformed into a more transparent, liquid, and competitive environment on the watch of President Bola Tinubu.
“The Central Bank’s direct market participation has reduced drastically to just 2% of turnover, compared to the previous era where it was the dominant supplier.
“This marks a critical step towards the empowerment of private sector participation and the creation of a truly market-driven economy.
“Importantly, this achievement not only builds on the momentum from 2024 — where Nigeria attracted a total FX inflow of $99.4 billion, a 44% increase from previous years — but also projects a brighter outlook for the future.
“With investor confidence rising, diaspora inflows expanding, and policy stability assured, we expect these positive trends to accelerate even further in subsequent quarters.
“The Tinubu Stakeholders Forum (TSF) reiterates that this significant improvement is a clear endorsement of President Tinubu’s commitment to restoring macroeconomic stability, enhancing Nigeria’s global financial standing, and creating a resilient economic environment that benefits all Nigerians.”
The group added that it is one of the reasons why the International community views the Nigerian economy as on an upward trajectory. (vitalnewsngr.com)
