Volume of remittances (in United States dollars) as a proportion of in Nigeria
Nigeria: Volume of remittances (in United States dollars) as a proportion of was 8.4% in 2024. ▲ Rising
Volume of remittances (in United States dollars) as a proportion of in Nigeria, 2000–2024
Source: United Nations Statistics Division, SDG Global Database.
Analysis
Nigeria recorded 8.4% for volume of remittances (in united states dollars) as a proportion of in 2024. That is the highest value across all 25 years on record.
That represents a change of up 110.4% on the previous year and up 130.8% over ten years.
Over the whole period, volume of remittances (in united states dollars) as a proportion of in Nigeria peaked at 8.4% in 2024 and was at its lowest, 1.0%, in 2003.
Nigeria ranks 41st of 203 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 25 years of available data.
Volume of remittances (in United States dollars) as a proportion of in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 2.0% | — |
| 2001 | 1.6% | -21.2% |
| 2002 | 1.3% | -19.8% |
| 2003 | 1.0% | -20.2% |
| 2004 | 1.7% | +65.0% |
| 2005 | 8.3% | +397.8% |
| 2006 | 7.1% | -14.8% |
| 2007 | 6.5% | -8.8% |
| 2008 | 5.7% | -12.6% |
| 2009 | 6.2% | +10.1% |
| 2010 | 5.4% | -13.6% |
| 2011 | 5.0% | -7.5% |
| 2012 | 4.4% | -11.0% |
| 2013 | 4.0% | -9.7% |
| 2014 | 3.7% | -8.5% |
| 2015 | 4.2% | +14.4% |
| 2016 | 4.9% | +16.4% |
| 2017 | 5.9% | +20.5% |
| 2018 | 5.8% | -1.7% |
| 2019 | 3.6% | -38.2% |
| 2020 | 2.9% | -19.3% |
| 2021 | 3.2% | +11.3% |
| 2022 | 3.1% | -2.7% |
| 2023 | 4.0% | +28.9% |
| 2024 | 8.4% | +110.4% |
Nigeria compared with similar countries
- Nigeria's 8.4% is above the median for lower middle income countries, which is 6.1%, 1.4× the median. (43 countries reporting)
- Nigeria's 8.4% is above the median for Sub-Saharan Africa, which is 2.9%, 2.9× the median. (39 countries reporting)
Biggest year-on-year movements
Years where Volume of remittances (in United States dollars) as a proportion of in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2005 | +397.8% | 1.7% | 8.3% |
| 2024 | +110.4% | 4.0% | 8.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.1% | 1.0% | 8.3% | 10 |
| 2010s | 4.7% | 3.6% | 5.9% | 10 |
| 2020s | 4.3% | 2.9% | 8.4% | 5 |
Countries ranked near Nigeria
More economy & growth data for Nigeria
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.19 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0041 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.01 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 148.16 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0138 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 16.86 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is volume of remittances (in united states dollars) as a proportion of in Nigeria?
- Volume of remittances (in united states dollars) as a proportion of in Nigeria was 8.4% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest volume of remittances (in united states dollars) as a proportion of recorded in Nigeria?
- The highest recorded value was 8.4% in 2024.
- What is the lowest volume of remittances (in united states dollars) as a proportion of recorded in Nigeria?
- The lowest recorded value was 1.0% in 2003.
- How does Nigeria rank for volume of remittances (in united states dollars) as a proportion of?
- Nigeria ranks 41st out of 203 countries with data for 2024.
- Is volume of remittances (in united states dollars) as a proportion of rising or falling in Nigeria?
- Over the last ten years it is up 130.8%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Volume of remittances (in United States dollars) as a proportion of total GDP (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 25 observations, free to reuse under UN SDG Global Database (open, attribution requested).