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).
