In 2023, the personal remittances received in Nigeria decreased by roughly 0.6 billion U.S. dollars (-2.9 percent) since 2022. The incoming personal remittances in Nigeria peaked in 2018, when the figure stood at 24 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.Find more statistics on other topics about Nigeria with key insights such as value of personal remittances paid, national gross income per capita, and gross national income (GNI).

Überweisungen in Nigeria stiegen im dritten Quartal 2024 von 5350 Mio. USD im zweiten Quartal 2024 auf 5403,50 Mio. USD. Diese Werte, historische Daten, Prognosen, Statistiken, Diagramme und ökonomische Kalender - Nigeria - Heimatüberweisungen.

Outbound remittances from Nigeria largely went towards Ghana in 2021, but this flow was considerably smaller than the total value of remittances received in Nigeria. This is according to a ranking that attempts to map out the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Nigeria, the top five recipient countries for remittances in 2021 included Ghana, Togo, Niger, Mali, and Benin. Nigeria's five main sources for remittances - which, in total, were over 10 times bigger than the value sent - included the United States, the United Kingdom, Cameroon, Italy, and Niger.

The value of personal remittances paid in Nigeria increased in 2023 in comparison to the previous year and stood at around 84.1 million U.S. dollars.Remittances are flows of money between immigrants and their relatives. They refer to personal transfers between resident and nonresident individuals, and the compensation of employees who are employed in an economy where they are not resident, and of residents employed by nonresident entities.Find more statistics on other topics about Nigeria with key insights such as gross national income (GNI), personal remittances received, and national gross income per capita.

Nigeria Remittances: Inward data was reported at 6,655.750 NGN bn in 2017. This records an increase from the previous number of 4,929.130 NGN bn for 2016. Nigeria Remittances: Inward data is updated yearly, averaging 4,009.930 NGN bn from Dec 2013 (Median) to 2017, with 5 observations. The data reached an all-time high of 6,655.750 NGN bn in 2017 and a record low of 3,241.780 NGN bn in 2013. Nigeria Remittances: Inward data remains active status in CEIC and is reported by National Bureau of Statistics of the Federal Republic of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.JB003: Remittances.

Nigeria Remittances: Outward data was reported at 82.100 NGN bn in 2017. This records a decrease from the previous number of 185.270 NGN bn for 2016. Nigeria Remittances: Outward data is updated yearly, averaging 82.100 NGN bn from Dec 2013 (Median) to 2017, with 5 observations. The data reached an all-time high of 200.870 NGN bn in 2015 and a record low of 4.310 NGN bn in 2013. Nigeria Remittances: Outward data remains active status in CEIC and is reported by National Bureau of Statistics of the Federal Republic of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.JB003: Remittances.

Account used to receive remittances (% age 15+) in Nigeria was reported at 23.28 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Account used to receive remittances (% age 15+) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Remittances entering Nigeria took less than one day to be processed in 2024, a figure that was much higher if cash or bank account transfers were involved. This is according to a Statista estimate that aims to compare the transaction speed listed for different international money transfer channels across the world. Generally, digital remittance tend to process remittances much faster. The figures shown here have originally been gathered by the World Bank using mystery shopping. "Traditional end-to-end" and "digital to traditional" are categories assigned by Statista, and refer to the payment method used at the remittance sending side and the method used when receiving. "Traditional" refers to cash and bank account transfers, while "Digital" includes everything that does not involve these (e.g., cards, mobile wallets, mobile money, etc.). In this statistic, the categories "traditional to digital" and "digital end-to-end" have been excluded, as there were not enough channels to use these. In the case of Nigeria, the "traditional end-to-end" and "digital to traditional" covered 98.4 percent of all recorded channels since 2016.

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.

Nigeria NG: Average Transaction Cost of Sending Remittances from a Specific Country data was reported at 18.300 % in 2017. This records an increase from the previous number of 10.069 % for 2016. Nigeria NG: Average Transaction Cost of Sending Remittances from a Specific Country data is updated yearly, averaging 14.185 % from Dec 2016 (Median) to 2017, with 2 observations. The data reached an all-time high of 18.300 % in 2017 and a record low of 10.069 % in 2016. Nigeria NG: Average Transaction Cost of Sending Remittances from a Specific Country data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Payment System. Average transaction cost of sending remittance from a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database from a specific country.; ; World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org; Unweighted average;

This report covers Nigeria Remittance Industry, Transaction Volume Remittance Nigeria, Money Transfer Industry Nigeria, Average Remittance Size Nigeria.

Nigeria NG: BOP: Current Account: Personal Remittances: Received: % of GDP data was reported at 5.855 % in 2017. This records an increase from the previous number of 4.863 % for 2016. Nigeria NG: BOP: Current Account: Personal Remittances: Received: % of GDP data is updated yearly, averaging 1.635 % from Dec 1977 (Median) to 2017, with 41 observations. The data reached an all-time high of 13.043 % in 2005 and a record low of 0.009 % in 1978. Nigeria NG: BOP: Current Account: Personal Remittances: Received: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank: Balance of Payments: Current Account. Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.; ; World Bank staff estimates based on IMF balance of payments data, and World Bank and OECD GDP estimates.; Weighted average; Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

In 2022, the value of personal remittances received in Africa was highest in Egypt and Nigeria. For these countries, the amount reached 32.3 billion and 20.9 billion U.S. dollars, respectively. Morocco and Ghana followed with 11.4 billion and 4.7 billion U.S. dollars, respectively.

Nigeria NG: BOP: Current Account: Personal Remittances: Paid data was reported at 274.908 USD mn in 2017. This records a decrease from the previous number of 744.092 USD mn for 2016. Nigeria NG: BOP: Current Account: Personal Remittances: Paid data is updated yearly, averaging 50.483 USD mn from Dec 1977 (Median) to 2017, with 41 observations. The data reached an all-time high of 1.072 USD bn in 2015 and a record low of 0.547 USD mn in 1996. Nigeria NG: BOP: Current Account: Personal Remittances: Paid data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Balance of Payments: Current Account. Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.; ; World Bank staff estimates based on IMF balance of payments data.; Sum; Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

Nigeria BoP: CA: Current Transfers: Other Sectors: Workers Remittances: Credit data was reported at 5.926 USD bn in Jun 2018. This records an increase from the previous number of 5.867 USD bn for Mar 2018. Nigeria BoP: CA: Current Transfers: Other Sectors: Workers Remittances: Credit data is updated quarterly, averaging 5.110 USD bn from Mar 2008 (Median) to Jun 2018, with 42 observations. The data reached an all-time high of 5.926 USD bn in Jun 2018 and a record low of 3.840 USD bn in Sep 2008. Nigeria BoP: CA: Current Transfers: Other Sectors: Workers Remittances: Credit data remains active status in CEIC and is reported by Central Bank of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.JB001: Balance of Payments.

Nigeria was Cameroon's main destination for remittances in 2021, according to a country ranking on the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Cameroon, the top five recipient countries for remittances in 2021 included Nigeria, France, Niger, Senegal, and Mali. Cameroon's five main sources for remittances were France, the United States, Gabon, Nigeria, and Germany.

Remitly was used the most for outgoing remittances from the UK in 2024, although its market share was relatively low due to how many providers are present. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going away from the United Kingdom. The three countries to which the UK sends the highest value of remittances are India, Pakistan, and Nigeria. Remittances are a relatively uncharted topic, though. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

Nigeria NG: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances: Credit data was reported at 21.766 USD bn in 2017. This records an increase from the previous number of 19.488 USD bn for 2016. Nigeria NG: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances: Credit data is updated yearly, averaging 585.738 USD mn from Dec 1977 (Median) to 2017, with 41 observations. The data reached an all-time high of 21.766 USD bn in 2017 and a record low of 2.425 USD mn in 1988. Nigeria NG: BoP: Current Account: Secondary Income: Financial Corporations, Non Financial Corporations, Households & NPISHs: Personal Transfers: ow Workers Remittances: Credit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Nigeria – Table NG.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

The number of users is forecast to experience significant growth in all segments in 2028. The trend observed from 2018 to 2028 remains consistent throughout the entire forecast period. There is a continuous increase in the indicator across all segments. Notably, the Digital Commerce segment achieves the highest value of 82 million users at 2028. The Statista Market Insights cover a broad range of additional markets.

In 2021, Tanzania and Nigeria were the countries in Africa with the highest costs incurred on remittances sent. On average, charges for a money transfer of 200 U.S. dollars from these countries amounted to 27 percent and 19 percent of the sum sent, respectively.