Abuja, April 10, 2025 – Personal remittance inflows into the country stood at $20.93 billion in 2024.
The Central Bank of Nigeria disclosed this on Wednesday in a statement issued by its Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali.
It said the figure was a significant improvement from deficits of $3.34 billion and $3.32 billion recorded in 2023 and 2022, respectively.
The apex bank attributed the improvement to a mix of macroeconomic reforms, stronger trade performance, and renewed investor confidence.
It said the inflows through International Money Transfer Operators (IMTOs) increasing by 43.5 per cent to $4.73bn, up from $3.30bn in the previous year.
“Remittance inflows remained resilient, with personal remittances rising by 8.9 per cent to $20.93bn.
“International Money Transfer Operator inflows surged by 43.5 per cent to $4.73bn, up from $3.30bn in 2023, reflecting stronger engagement from the Nigerian diaspora. Official development assistance also rose by 6.2 per cent to $3.37bn.”
The CBN also said the current and capital accounts recorded a surplus of $17.22 billion, arising from goods trade surplus of $13.17 billion, while non-oil exports also rose by 24.6 per cent to $7.46 billion.
Gas exports increased by 48.3 per cent to $8.66bn, while petroleum imports fell by 23.2 per cent to $14.06 billion, and non-oil imports declined by 12.6 per cent to $25.74 billion.
