Remittance inflows to GDP in Nigeria
Nigeria: Remittance inflows to GDP was 4.0% in 2020. ◆ Volatile
Remittance inflows to GDP in Nigeria, 1977–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
In 2020, remittance inflows to gdp in Nigeria stood at 4.0%.
That represents a change of down 25.1% on the previous year and down 27.1% over ten years.
Over the whole period, remittance inflows to gdp in Nigeria peaked at 8.3% in 2005 and was at its lowest, 0.0%, in 1988.
That places Nigeria 69th out of 195 countries with data for 2020, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.0% | 0.0% | 0.1% | 3 |
| 1980s | 0.0% | 0.0% | 0.0% | 10 |
| 1990s | 1.0% | 0.0% | 2.9% | 10 |
| 2000s | 4.1% | 1.0% | 8.3% | 10 |
| 2010s | 4.9% | 3.8% | 6.1% | 10 |
| 2020s | 4.0% | 4.0% | 4.0% | 1 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Domestic credit to private sector by banks 13.1% (2023)
- Total reserves in months of imports 7.12 (2025)
- Net domestic credit 66.12 trillion current LCU (2022)
- Net foreign assets 3.79 trillion current LCU (2022)
- Monetary Sector credit to private sector 9.6% (2022)
- Broad money 25.1% (2023)
- Claims on central government, etc. 8.6% (2022)
- Domestic credit to private sector 9.6% (2022)
- Official exchange rate 1,518 LCU per US$, period average (2025)
- Net migration -15,258 (2025)
Frequently asked questions
- What is remittance inflows to gdp in Nigeria?
- Remittance inflows to gdp in Nigeria was 4.0% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Nigeria?
- The highest recorded value was 8.3% in 2005.
- What is the lowest remittance inflows to gdp recorded in Nigeria?
- The lowest recorded value was 0.0% in 1988.
- How does Nigeria rank for remittance inflows to gdp?
- Nigeria ranks 69th out of 195 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Nigeria?
- Over the last ten years it is down 27.1%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.