In 2023, the personal remittances received in Nigeria decreased by roughly *** billion U.S. dollars (-2.9 percent) since 2022. The incoming personal remittances in Nigeria peaked in 2018, when the figure stood at ** billion U.S. dollars. Personal remittances refer to personal transfers and compensation of employees. The former includes all current transfers between resident and nonresident individuals, while the latter refers to the income of workers who are employed in an economy where they are not resident, and of residents employed by nonresident entities. These include border, seasonal, and other short-term workers.

Remittances sent to Africa went largely towards Egypt, Nigeria, and Morocco in 2021, with each country receiving at least 10 billion billions worth of dollars. This is according to a database that tries to model money sent internationally from one party to another. Remittances typically refer to money sent from migrant workers back home to family and friends, although there are other forms of this. Remittances can, for example, include pensioners who have a second home in a foreign country. Nevertheless, Asia Pacific - not Africa - is often referred to as the main receiver of remittances.

Remittances in Nigeria decreased to 5080 USD Million in the fourth quarter of 2024 from 5403.50 USD Million in the third quarter of 2024. This dataset provides - Nigeria Remittances- actual values, historical data, forecast, chart, statistics, economic calendar and news.