{"id":117000,"date":"2025-03-31T22:51:58","date_gmt":"2025-03-31T21:51:58","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=117000"},"modified":"2025-03-31T22:51:58","modified_gmt":"2025-03-31T21:51:58","slug":"nigerias-net-forex-inflow-hits-17-39bn-in-q4-2024-report","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nigerias-net-forex-inflow-hits-17-39bn-in-q4-2024-report\/","title":{"rendered":"Nigeria\u2019s net forex inflow hits $17.39bn in Q4 2024 &#8211; report"},"content":{"rendered":"<div style=\"text-align: justify;\">By Daniel Adaji<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Nigeria recorded a surge in her net foreign exchange inflow, reaching $17.39bn in the fourth quarter of 2024. This increase was largely fueled by autonomous sources such as foreign investments, remittances, and export earnings.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The latest Quarterly Economic Report from the Central Bank of Nigeria (CBN) highlights the improvement in forex liquidity.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThe economy recorded a higher net foreign exchange inflow, driven largely by inflow through autonomous sources. Foreign exchange inflow through the economy increased by 20.62 per cent to US$27.81 billion from US$23.06 billion in Q3 2024,&#8221; the report read in part.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">A key factor in this growth was a 47.55 per cent increase in autonomous inflows, which rose from $11.03bn in the third quarter to $16.27bn in the fourth quarter of 2024, as noted by the CBN.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Meanwhile, foreign exchange inflows through the CBN saw a minor drop of 4.05 per cent, falling from $12.03bn in the previous quarter to $11.54bn. This reduction suggests a decrease in official forex receipts, possibly due to lower remittances, foreign direct investment, or official grants.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Foreign exchange outflows also saw a substantial rise, increasing by 31.37 per cent to $10.42bn in Q4 2024 compared to the previous quarter.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">CBN data showed that outflows through the apex bank rose by 22.98 per cent to $8.99bn, while autonomous sources recorded a sharp 129.59 per cent jump, reaching $1.43bn.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cConsequently, net foreign exchange inflow through the economy increased by 14.99 per cent to US$17.39 billion from US$15.13 billion in the preceding quarter.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">&#8220;An increase was also recorded in net inflow through autonomous sources to US$14.84 billion from US$10.40 billion in the preceding quarter.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">&#8221; A net inflow of US$2.56 billion was recorded through the Bank, compared with a net inflow of US$4.72 billion in Q3 2024,\u201d CBN stated.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Daniel Adaji Nigeria recorded a surge in her net foreign exchange inflow, reaching $17.39bn in the fourth quarter of 2024. This increase was largely fueled by autonomous sources such&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":117001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-117000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nigeria\u2019s net forex inflow hits $17.39bn in Q4 2024 - report - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/nigerias-net-forex-inflow-hits-17-39bn-in-q4-2024-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria\u2019s net forex inflow hits $17.39bn in Q4 2024 - report - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"By Daniel Adaji Nigeria recorded a surge in her net foreign exchange inflow, reaching $17.39bn in the fourth quarter of 2024. 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