Nigeria’s remittance inflows hit USD 23 billion in 2025, marking the highest level in five years. Governor Makreo Research highlights the diaspora’s resilience amid global inflation and economic pressures. The inflows have bolstered Nigeria’s external liquidity and supported broader economic stability.
Digital adoption is reshaping the remittance landscape. Traditional MTOs like Western Union remain vital, but fintech platforms such as Remitly and Wise are growing fast, attracting tech-savvy Nigerians with lower fees and transparent rates. Digital channels are projected to expand at 15.92% annually.
The sector is also driving foreign reserve growth, which reached USD 46.7 billion in December 2025. Key corridors include the U.S., U.K., Canada, Germany, and Saudi Arabia, while emerging markets like UAE, South Africa, and Australia gain importance. Nigeria’s youthful population accelerates digital adoption, improving SME access to finance.