₦airaland Forum

With nearly $100 billion flowing into the economy in 2024, the Central Bank handled less than half. Who supplied the rest? And more importantly, with outflows at just $40.61 billion, what does a net flow of $58.84 billion actually mean for the naira, businesses, and ordinary Nigerians? Why did $40.61 billion flow back out, and who really controls the larger share: the CBN or autonomous sources?
And with a net flow of $58.84 billion, is Nigeria finally building FX stability, or just buying time?

🇳🇬FOREIGN EXCHANGE FLOWS THROUGH THE ECONOMY 2024

INFLOW — $99.44 billion
Through CBN — $40.15 billion
Autonomous Sources — $59.29 billion

OUTFLOW — $40.61 billion
Through CBN — $32.16 billion
Autonomous Sources — $8.44 billion

Net Flow — $58.84 billion

#Statisense
(CBN)

https://x.com/StatiSense/status/1959663694280884353

I tell people that Nigeria doesn't really have an FX inflow problem, the major problem is outflow fueled by corruption, there is more export of the dollars than the import of it, if government officials steal billions of naira monthly only to mop up the existing dollars that should be used for productive things in Nigeria to buy properties abroad and store in their bank accounts abroad, 2 things happen, the naira keeps getting devalued and scarcity of dollars keeps taking place which in turn shoots prices of imported goods up.

The question is what has Tinubu done to stop that cycle?

First to comment. Some people control so much foreign exchange and are able to manipulate the market

APC e-warriors....
Food don land oooooo! Carry una long spoons follow body oooooo

But make una nor forget to comment for this thread below:

https://www.nairaland.com/8506317/no-more-corruption-nigeria-reforms#136590150

Op ...all these your big big questions..can you please break it down for some of us that are not economist or financial expert

DrMB:
With nearly $100 billion flowing into the economy in 2024, the Central Bank handled less than half. Who supplied the rest? And more importantly, with outflows at just $40.61 billion, what does a net flow of $58.84 billion actually mean for the naira, businesses, and ordinary Nigerians? Why did $40.61 billion flow back out, and who really controls the larger share: the CBN or autonomous sources?
And with a net flow of $58.84 billion, is Nigeria finally building FX stability, or just buying time?


https://x.com/StatiSense/status/1959663694280884353

This is Laudable.
I don't know why some people will still be sad with Nigeria under Tinubu.
I was talking to a guy sometimes ago on different thread that Nigeria is currently an export country and no longer import dependent country.
Nigeria is Getting Great Again.
No Be Juju Be Dat?

With all this inflows if is true Escobar still borrows more than any leader & loot it dry with his cronies thanks to Abuja land graber

How was the non CBN data gathered? Love to know who did all that

This is what happens when data is released without the writer fleshing it out, typical of StatiSense. Now, OP is expecting us to answer questions we obviously don't have answers to.

DrMB:
Why did $40.61 billion flow back out,

https://x.com/StatiSense/status/1959663694280884353

You don’t pay for imports with Naira.


Xxxxxxxxxxxxxx

adioolayi:
Op ...all these your big big questions..can you please break it down for some of us that are not economist or financial expert

Thank you very much. My thoughts exactly. In essence, how does this affect the common man?

All these stories need not be told. When money flows into the economy they do not need to tell us, we will know. We are not monkeys that you will throw banana and they will chop.
Let naira start to appreciate against the dollar, pounds, euro then we will know billions of dollars has started flowing as they claim.
That was how they were shouting nnpc refinery, air Nigeria etc and it was all cruise.
Evil apc charlatans.

immaculatesense:
This is Laudable.
I don't know why some people will still be sad with Nigeria under Tinubu.

I was talking to a guy sometimes ago on different thread that Nigeria is currently an export country and no longer import dependent country.
Nigeria is Getting Great Again.
No Be Juju Be Dat?

If no be juju true true, then why is the exchange rate not N300/$1 yet

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate

April 23, 2023

The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

fasho01:
Thank you very much. My thoughts exactly. In essence, how does this affect the common man?

Make in a dey try understand some things. This is trade related activities not giveaway from another country.
These money mainly belong to several individuals not the government. Dangote, Onyema, Otedola etc foreign trading activities are included in that calculations.

Any plumber available to help with the flow issue

What This Means
• CBN supplied less than half → real power lies with banks, exporters, remittances & investors.
• Outflows mostly CBN-led → they still spend big to stabilize the naira.
• Positive net flow → more dollars came in than went out.

⚡Impact

✅ Naira: Could stabilize if inflows remain strong.
✅ Businesses: Better FX access.
✅ Ordinary Nigerians: Chance of reduced inflation pressure.
⚠️ Risk: If investor confidence drops, inflows fall and naira weakens.

immaculatesense:
This is Laudable.
I don't know why some people will still be sad with Nigeria under Tinubu.
I was talking to a guy sometimes ago on different thread that Nigeria is currently an export country and no longer import dependent country.
Nigeria is Getting Great Again.
No Be Juju Be Dat?

We became an export country in the last two years?
Better thank Dangote and his refinery.
Oh I forgot, Tinubu built that too within one year of resumption.

Dialpad:
How was the non CBN data gathered? Love to know who did all that

Prolly BDCs & other financial institutions?
Prolly BDCs & other financial institutions?

Leboska:
With all this inflows if is true Escobar still borrows more than any leader & loot it dry with his cronies thanks to Abuja land graber

Who told you all the inflows mentioned belongs to govt.....the change you beg your brother to send you from abroad to feed is also included in that inflow.

Don't they have an obligation to report all their financial transactions to CBN

FineUsername:
Prolly BDCs & other financial institutions?
Prolly BDCs & other financial institutions?

nedekid:
All these stories need not be told. When money flows into the economy they do not need to tell us, we will know. We are not monkeys that you will throw banana and they will chop.
Let naira start to appreciate against the dollar, pounds, euro then we will know billions of dollars has started flowing as they claim.
That was how they were shouting nnpc refinery, air Nigeria etc and it was all cruise.
Evil apc charlatans.

Can you give just 2 ways naira can appreciate against the dollars,then we will know how knowledgeable you are about this things.....you think currency rates is just by fiat or tinubu single handedly has the powers to make naira 200 to a dollar..... Typical Buhari was cloned analyst!!

Sure, they do. The data is from CBN. Hence, the proper segregation of the sources. Stand to be corrected.

Dialpad:
Don't they have an obligation to report all their financial transactions to CBN

immaculatesense:
This is Laudable.
I don't know why some people will still be sad with Nigeria under Tinubu.
I was talking to a guy sometimes ago on different thread that Nigeria is currently an export country and no longer import dependent country.
Nigeria is Getting Great Again.
No Be Juju Be Dat?

if inflow is this good and there is no mega corruption going on, naira should be much stronger and be gaining much more strength as we speak. There are hidden caveats.

Brendaniel:
I tell people that Nigeria doesn't really have an FX inflow problem, the major problem is outflow fueled by corruption, there is more export of the dollars than the import of it, if government officials steal billions of naira monthly only to mop up the existing dollars that should be used for productive things in Nigeria to buy properties abroad and store in their bank accounts abroad, 2 things happen, the naira keeps getting devalued and scarcity of dollars keeps taking place which in turn shoots prices of imported goods up.

The question is what has Tinubu done to stop that cycle?

the presidential jet and its entourage that are gallivanting all over the world are part of that leakage

Lithiumite:
Can you give just 2 ways naira can appreciate against the dollars,then we will know how knowledgeable you are about this things.....you think currency rates is just by fiat or tinubu single handedly has the powers to make naira 200 to a dollar..... Typical Buhari was cloned analyst!!

It is not my duty to educate the proverbial ox.
I believe you have AI since you have a phone. Type this on your browser
"what does increase foreign exchange earning mean for an ecomomy"

CodeTemplarr:
if inflow is this good and there is no mega corruption going on, naira should be much stronger and be gaining much more strength as we speak. There are hidden caveats.

Oga. Before you talk about gain, you have to talk about stability which is the stage the currency is currently.
If Man City is loosing 2:0 to Liverpool at halftime. Won't the target be to win but the hanging fruit is to first balance the score by not conceding but equalizing before going for the win.
Nigerian Naira was formerly on the losing streak but now it is stable then we can start looking forward to gains.
THAT IS ECONOMICS NOT MAGIC.
No Be Juju Be Dat?

DeepSight:
We became an export country in the last two years?
Better thank Dangote and his refinery.
Oh I forgot, Tinubu built that too within one year of resumption.

The bottom line is that we are an exporting country in the last two years under the leadership of PBAT whether it is private induced or public or synergy, we are on the right track.
No Be Juju Be Dat?

anonimi:
If no be juju true true, then why is the exchange rate not N300/$1 yet

Ordinary ECONOMICS you no know.
There must be STABILITY first before GAIN. Nigeria is currently at that stability, the gain is inevitable. STABILITY IS A BIG FOUNDATION FOR GROWTH.
No Be Juju Be Dat?

immaculatesense:
Oga. Before you talk about gain, you have to talk about stability which is the stage the currency is currently.
If Man City is loosing 2:0 to Liverpool at halftime. Won't the target be to win but the hanging fruit is to first balance the score by not conceding but equalizing before going for the win.
Nigerian Naira was formerly on the losing streak but now it is stable then we can start looking forward to gains.
THAT IS ECONOMICS NOT MAGIC.
No Be Juju Be Dat?

You are not talking with someone sucking akamu n glucose from feeding-bottle Oga.

The naira was never really on a losing streak as you put it. It was being subsidized and seeing the FG lacked the means to keep up, they backpeddled until they finally floated it or deregulated it. The subaidy was done for politics sake and lack of political will to stand and walk upright economically.

CodeTemplarr:
You are not talking with someone sucking akamu n glucose from feeding-bottle Oga.

The naira was never really on a losing streak as you put it. It was being subsidized and seeing the FG lacked the means to keep up, they backpeddled until they finally floated it or deregulated it. The subaidy was done for politics sake and lack of political will to stand and walk upright economically.

Maybe you were far from the news at a point in time.
At that point in time, the Naira was doing almost #2000 to the $. Some people (enemies of Nigeria) were even advising people to hoard their dollars because the Naira was heading for #3,000+.
Just to remind you of what losing and winning streaks mean in this context in case you missed the development at some point in time and then you woke up to the 1,500+ stability.
No Be Juju Be Dat?

immaculatesense:
The bottom line is that we are an exporting country in the last two years under the leadership of PBAT whether it is private induced or public or synergy, we are on the right track.
No Be Juju Be Dat?

Why are you trying to attribute it to BAT? Something that has been steadily in the works for over ten years?
In fact we all recall how this govt tried to frustrate him, he had to go on TV to shout for the first time ever.

DeepSight:
Why are you trying to attribute it to BAT? Something that has been steadily in the works for over ten years?
In fact we all recall how this govt tried to frustrate him, he had to go on TV to shout for the first time ever.

Lol...this government frustrating Dangote? Are you kidding?
Was it not the same Dangote that said it was Tinubu that gave him the leverage to build the refinery in Lagos when he was rejected in Ondo? Was the Dangote not praising TINUBU to high heaven?
You do not know the Politics in the Oil sector so you better go learn before u start analyzing what you know nothing about.
Dangote wants the importation of Refined products to stop so that all oil marketers will buy from him. The government was not convinced about stopping importation of Refined oil for two reasons.
1. Monopoly of the sector (biggest sector in the nation) by Dangote. When we have another competitive refinery that can compete in price with Dangote you will see that the government will ban importation of PMS.
2. Crude should be sold to him in Naira. That was the news you read about the alarm he raised at the time. The government took their time to assess the situation and agreed with Dangote for two reasons. (1) It will reduce pressure on Demand for Dollar (2) Strengthen the naira.

So, holistical. The government (TINUBU) was never against Dangote. Some politics were played by both Dangote and some powerful politicians (some in government) who have stake in the Oil sector but felt threatened by Dangote.
VERDICT: Dangote won 1/2 (Naira for Crude). They (politicians in the Oil sector) won 1/2 (Continuous assess to importation of PMS).

HOW MUCH YOU GO PAY ME FOR THIS ENLIGHTENMENT NOW?
No Be Juju Be Dat?