Nigeria’s diaspora remittance inflows remained resilient in 2025, stabilising at $21.8 billion despite mounting global economic headwinds, tighter immigration policies in advanced economies, and persistently high money transfer costs across Sub-Saharan Africa.
Data from the Central Bank of Nigeria showed that total remittances stood at $21.806 billion in 2025, marginally below the $21.811 billion recorded in 2024, reflecting sustained support from Nigerians living abroad amid global uncertainty.
Brandspur Banking News Desk reports that the 2025 performance followed a strong rebound in 2024, when remittance inflows climbed by over 13 per cent to $21.81 billion, up from $19.27 billion in 2023, signalling renewed confidence in Nigeria’s remittance channels.
A quarterly breakdown of inflows revealed a steady upward trend throughout 2025, rising from $5.12 billion in the first quarter to $5.72 billion by the fourth quarter, underscoring consistent financial contributions from the diaspora despite weak global growth conditions.
The stabilisation marks a clear shift from the volatility experienced during the COVID-19 era, when annual remittance inflows dropped to around $17 billion, reflecting widespread job losses and economic disruptions in host countries.
Meanwhile, a recent report by the World Bank highlighted that Sub-Saharan Africa remained the most expensive region globally for remittance transfers, despite gradual reductions in average transaction costs worldwide.
According to the World Bank’s Remittance Prices Worldwide report for the third quarter of 2025, the average cost of sending money to Sub-Saharan Africa stood at 8.46 per cent, significantly higher than the global average of 6.36 per cent.
The report further noted that banks continued to be the most expensive remittance channels globally, charging an average fee of nearly 15 per cent, while digital platforms and fintech operators offered relatively lower costs but had yet to fully close the affordability gap.
In contrast, the Middle East, North Africa, Afghanistan and Pakistan region emerged as the cheapest remittance destination globally, with an average transfer cost of 5.11 per cent, overtaking South Asia.
Analysts say sustaining remittance inflows remains critical for Nigeria’s foreign exchange stability, household consumption, and broader economic resilience, particularly as policymakers continue to seek ways to lower transfer costs and formalise remittance channels.
