NGNigeria's foreign exchange (FX) utilization surged by 74% to $16.2 billion in Q1 2026 compared to the same period in 2025, driven primarily by invisible transactions that more than doubled to $11.4 billion. Invisible transactions made up 70% of total FX usage, with the financial services sector accounting for 79% of this, utilizing $9 billion. Business services saw significant growth, while merchandise imports remained stable at $4.9 billion. Industrial companies experienced a 20% decline in FX use, though manufactured goods and transport products showed increases due to higher import costs and global supply chain issues. Improved liquidity and naira stability contributed to the trend, according to analysts.
Bias read (Center): The article presents factual economic data without overt ideological slant. It reports on FX utilization trends, citing central bank data and expert analysis without favoring specific political agendas. While it mentions potential implications for economic policy, it does not take a clear partisan立场
