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Nigeria's Remittances Soar to $20.98 Billion in 2024

4/11/2025

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Summary

Story summary

In 2024, Nigeria celebrated a remarkable surge in remittances, hitting $20.98 billion—a 9% increase and the highest since 2019. The World Bank highlighted Nigeria's leading position in remittances across Africa. CBN Governor Olayemi Cardoso credited this growth to strategic economic reforms and a commitment to strengthening ties with the diaspora.

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Story summary

In 2024, Nigeria celebrated a remarkable surge in remittances, hitting $20.98 billion—a 9% increase and the highest since 2019. The World Bank highlighted Nigeria's leading position in remittances across Africa. CBN Governor Olayemi Cardoso credited this growth to strategic economic reforms and a commitment to strengthening ties with the diaspora.