Dollar demand by the end-users declined sharply in April 2026, with total FX utilisation by sectors falling by 35.23 percent to $3.42 billion, as the nNaira rises after CBN removes FX, securities restrictions on discount windowaira maintained relative stability in the official foreign exchange market, according to the monthly economic report published by the Central Bank of Nigeria (CBN).
Data showed that visible imports accounted for 41.92 percent of total FX utilisation, while invisible imports accounted for the larger share of 58.08 percent.
Within visible imports, the industrial sector was the largest user of foreign exchange, accounting for 37.44 percent of total utilisation. This was followed by manufactured products with 21.85 percent, oil imports with 20.11 percent and food products with 14.47 percent.
The transport sector accounted for 3.54 percent of visible import-related FX utilisation, while minerals and agriculture accounted for 1.47 percent and 1.12 percent respectively.
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