from OKORO CHINEDU in Lagos, Nigeria
Nigeria Bureau
LAGOS, (CAJ News) – NIGERIA’S remittance inflows have reached US$23 billion in 2025 as the sector undergoes a major structural shift, marked by rapid digital adoption.
According to Makreo Research, this is the highest level recorded in the past five years, highlighting the sustained resilience of Nigeria’s global diaspora despite global inflation and macroeconomic pressures.
The research firm reports that digital remittance platforms and local fintechs were gaining strong traction, especially among tech-savvy Nigerians and the diaspora, local fintechs were expanding into cross-border payments through strategic partnerships, offering competitive foreign currency rates, and mobile-first experiences while the expansion of digital channels -projected to grow at a 15,92 percent annual rate – accelerating the shift toward real-time, digitally-enabled remittance infrastructure.
“Record remittance inflows and rising digital adoption underscore Nigeria’s structural transformation, signaling improved transparency, policy clarity, and a more resilient financial ecosystem,” Omkar Manjrekar, Senior Research Analyst at Makreo Research, stated.
According to the research, the major sending markets are the United States, United Kingdom, Canada, Germany and Saudi Arabia.
Emerging corridors showing increasing activity have been identified as the United Arab Emirates, South Africa and Australia.
Western Union maintains a dominant market position while MoneyGram and Ria remain popular choices for cash pickup services.
Makreo Research, based in Mumbai, concludes that as Nigeria advances its financial modernisation agenda, the remittance sector stands at a strategic intersection.
This is where diaspora strength meets digital innovation, positioning it not merely as a source of income but as a catalyst for economic resilience, financial inclusion and long-term national development.
The West African country is the most populous in the continent, with a population estimated at 239 million people.
– CAJ News