Diaspora remittances into Nigeria stabilised at $21.8 billion in 2025 despite mounting global economic pressures, tighter immigration policies in major economies and rising transfer costs across Sub-Saharan Africa.
The stability in remittances follows the strong recovery recorded in 2024 when remittance inflows surged by 13.16 percent to $21.81 billion from $19.27 billion in 2023.
Quarterly analysis of the inflows indicated a steady growth pattern throughout 2025. Remittances rose from $5.122 billion in Q1’25 to $5.72 billion in Q4’25, pointing to sustained support from Nigerians abroad despite weak global growth conditions.
The stability marks a sharp departure from the volatility witnessed during the COVID-19 period when inflows dropped to as low as $17 billion annually.
Meanwhile, the World Bank has said that Sub-Saharan Africa remained the most expensive region globally for remittance transfers despite gradual reductions in average transaction costs worldwide.
In its recently released Remittance Prices Worldwide report for third quarter, Q3’25, the World Bank stated that the average cost of sending money to Sub-Saharan Africa stood at 8.46 percent, significantly above the global average of 6.36 percent.
The report also showed that banks remained the costliest remittance channels globally with an average fee of 14.99 percent.
According to the World Bank, although digital remittance services and fintech operators continued to reduce transfer charges, traditional banking channels remained expensive, limiting the benefits to recipients in developing economies.
The report added that the Middle East, North Africa, Afghanistan and Pakistan region emerged as the cheapest remittance destination globally with an average transfer cost of 5.11 percent, overtaking South Asia.
