Nigeria
Inward remittancesGlobal rank #10
$21.3B
Outward remittancesGlobal rank #92
$92M
Net remittance positionNet recipient2024
$21.2B
Inflows are 230.69× outflows
Inward vs. outward remittance trends
Annual nominal transfers in billions USD (2000–2024)
OutwardInward
| Year | Inward ($B) | Outward ($B) | Net Position ($B) |
|---|---|---|---|
| 2000 | 1.39 | 0.00 | 1.39 |
| 2001 | 1.17 | 0.00 | 1.17 |
| 2002 | 1.21 | 0.00 | 1.21 |
| 2003 | 1.06 | 0.01 | 1.05 |
| 2004 | 2.27 | 0.02 | 2.25 |
| 2005 | 14.64 | 0.07 | 14.57 |
| 2006 | 16.93 | 0.10 | 16.83 |
| 2007 | 18.01 | 0.05 | 17.96 |
| 2008 | 19.20 | 0.06 | 19.14 |
| 2009 | 18.37 | 0.05 | 18.32 |
| 2010 | 19.74 | 0.05 | 19.70 |
| 2011 | 20.62 | 0.08 | 20.54 |
| 2012 | 20.54 | 0.04 | 20.50 |
| 2013 | 20.80 | 0.05 | 20.75 |
| 2014 | 21.00 | 0.05 | 20.94 |
| 2015 | 20.63 | 1.04 | 19.59 |
| 2016 | 19.70 | 0.74 | 18.95 |
| 2017 | 22.04 | 0.28 | 21.76 |
| 2018 | 24.31 | 0.07 | 24.24 |
| 2019 | 23.81 | 0.09 | 23.72 |
| 2020 | 17.21 | 0.09 | 17.12 |
| 2021 | 19.48 | 0.08 | 19.40 |
| 2022 | 20.13 | 0.08 | 20.05 |
| 2023 | 19.55 | 0.08 | 19.47 |
| 2024 | 21.29 | 0.09 | 21.20 |
Corridor cost and speed
Fee, FX margin, total cost and transfer speed for money received into Nigeria.
| Sending Country | Send $200 | Send $500 | Speed | Survey Period | |||||
|---|---|---|---|---|---|---|---|---|---|
| Fee | FX Margin | Total Cost | Fee | FX Margin | Total Cost | Under 1 Hour | Same Day or Faster | ||
| United Kingdom | 1.23% | 0.73% | 1.96% | 0.53% | 0.73% | 1.26% | 77.42% | 77.42% | Q3 2025 |
| United States | 2.23% | 0.48% | 2.72% | 1.16% | 0.43% | 1.59% | 72.73% | 72.73% | Q3 2025 |
| Netherlands | 1.68% | 1.16% | 2.84% | 0.71% | 1.17% | 1.88% | 85.71% | 85.71% | Q3 2025 |
| Germany | 0.89% | 1.96% | 2.85% | 0.47% | 1.96% | 2.43% | 72.73% | 72.73% | Q3 2025 |
| Spain | 1.90% | 0.98% | 2.88% | 0.81% | 0.98% | 1.78% | 66.67% | 66.67% | Q3 2025 |
| Canada | 1.95% | 1.20% | 3.15% | 1.04% | 1.20% | 2.24% | 69.23% | 69.23% | Q3 2025 |
| Cameroon | 4.74% | -0.36% | 4.38% | 4.73% | -0.36% | 4.36% | 100.00% | 100.00% | Q3 2025 |
| Italy | 3.11% | 1.44% | 4.55% | 1.37% | 1.44% | 2.80% | 77.78% | 77.78% | Q3 2025 |
| Ghana | 7.10% | 6.20% | 13.29% | 3.76% | 6.20% | 9.96% | 0.00% | 100.00% | Q3 2025 |
| South Africa | 11.45% | 3.20% | 14.65% | 5.20% | 3.19% | 8.40% | 17.65% | 23.53% | Q3 2025 |
Corridor-balanced summary
Unweighted medians across 10 inbound corridors
- Median cost ($200)
- 3.01% Median across corridors
- Median cost ($500)
- 2.34% Median across corridors
- Under 1 Hour
- 72.73% Median corridor share
- Same Day or Faster
- 75.07% Median corridor share
Cost vs. speed
Each dot represents a corridor · $200 transfer
Hover over or focus a dot for corridor details.
Sources
| Dataset | Source / Publisher | Release / Period | Link |
|---|---|---|---|
| Remittance Flows Datasets | World Bank | July 2025 | Open |
| Remittance Prices Worldwide | World Bank | Q3 2025 | Open |
Methodology
Figures shown on this page include calculations derived from the underlying datasets.
View full methodology