Nigeria's Remittance Outflows Drop 36% in 2025

In 2025, Nigeria experienced a significant decline in remittance outflows, which fell by 36.09% to ₦1.22 billion from ₦1.91 billion in 2024, according to data from the Central Bank of Nigeria. The monthly outflow patterns showed that no single month in 2025 exceeded ₦200.31 million, with December recording the highest outflow at ₦200.31 million.

In contrast, 2024 had notable peaks, particularly in May with ₦365.44 million and June with ₦270.52 million. The data indicates a volatile trend in remittances, with January 2025 starting at ₦54.44 million and peaking in February at ₦125.59 million before experiencing a notable dip in April to ₦37.75 million.

The decline in remittance outflows coincides with broader policy reforms aimed at stabilizing the foreign exchange market, including the removal of exchange rate caps and significant increases in licensing fees for international money transfer operators. Despite the drop, January 2026 showed an increase in outflows, indicating potential recovery.