By Salif Atojoko

The Tinubu Stakeholders Forum (TSF) has welcomed the latest data indicating that Nigeria recorded a net foreign exchange (FX) inflow of 15.2 billion dollars in the first quarter of 2025.

Mr Ahmad Sajoh, Chairman, TSF, described this feat as a testament to the effectiveness of President Bola Tinubu’s bold economic reforms.

“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 dollars in the first quarter.

“This is an 18.68 per cent increase compared to same period in 2024.

“Although FX outflows also rose, the positive net balance of 15.2 billion dollars 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 under the watch of President Tinubu,” Sajoh said.

Sajoh added that the Central Bank’s direct market participation had reduced drastically to just two per cent 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 dollars, a 44 per cent 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,” he added.

The TSF chairman reiterated that the improvement was 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 would benefit all Nigerians.

He added that it was one of the reasons why the international community viewed the Nigerian economy as being on an upward trajectory. (NAN)(www.nannews.ng)

Edited by Deborah Coker