{"id":8006,"date":"2026-04-08T10:14:11","date_gmt":"2026-04-08T10:14:11","guid":{"rendered":"https:\/\/ograsset.com\/?p=8006"},"modified":"2026-04-08T10:14:12","modified_gmt":"2026-04-08T10:14:12","slug":"remittance-outflows-drop-36-as-reforms-stabilise-economy","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/04\/08\/remittance-outflows-drop-36-as-reforms-stabilise-economy\/","title":{"rendered":"Remittance outflows drop 36% as reforms stabilise economy"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Remittance outflows drop 36% as reforms stabilise economy<\/strong><\/h1>\n\n\n\n

Remittance outflows declined by N689.55m in 2025, reflecting a 36.09 per cent drop compared to 2024, according to data obtained from the Central Bank of Nigeria on Tuesday.<\/p>\n\n\n\n

Remittance outflows are money sent from a country to recipients in other countries. In simpler terms, it\u2019s when people, businesses, or organisations transfer funds abroad.<\/p>\n\n\n\n

An analysis of the full-year figures showed that total international payment outflows fell from N1.91bn in 2024 to N1.22bn in 2025, signalling a sharp contraction in cross-border remittance flows.<\/p>\n\n\n\n

The data indicates that 2024 recorded significantly higher outflows, driven by elevated monthly payments in several periods, particularly in May (N365.44m), June (N270.52m), and September (N230.30m). These three months alone accounted for over N866m, representing a substantial share of the annual total.<\/p>\n\n\n\n

In contrast, 2025 posted a more subdued outflow pattern, with no single month exceeding N200.31m. The highest monthly outflow in 2025 was recorded in December at N200.31m, followed by November at N166.41m and September at N149.49m.<\/p>\n\n\n\n

A breakdown of the 2025 monthly data shows a gradual but uneven trend across the year. Outflows began at N54.44m in January and rose sharply to N125.59m in February before moderating to N110.98m in March. April recorded a notable dip to N37.75m, marking one of the lowest monthly figures in the year.<\/p>\n\n\n\n

The trend picked up slightly in May at N78.38m and June at N82.15m, before easing again to N75.02m in July. August saw a moderate increase to N107.55m, followed by a stronger rise in September to N149.49m.<\/p>\n\n\n\n

However, October recorded a sharp drop to N33.02m, the lowest monthly outflow in 2025, before rebounding significantly in November and December to N166.41m and N200.31m, respectively. The year ended on a strong note, with the last two months accounting for over 29 per cent of total annual outflows.<\/p>\n\n\n\n

Comparatively, the 2024 monthly pattern was more volatile and generally higher. After opening at N138.56m in January, outflows fell sharply to N39.15m in February but surged to N193.31m in April and peaked at N365.44m in May. This was followed by another elevated figure of N270.52m in June, underscoring sustained pressure on external payments during the period.<\/p>\n\n\n\n

Further into 2024, outflows remained relatively high, with September posting N230.30m and December closing at N173.68m, reinforcing the stronger annual total recorded that year.<\/p>\n\n\n\n

For January 2026, the data showed remittance outflows of N107.47m. This represents a significant year-on-year increase of N53.03m, up from N54.44m recorded in January 2025, indicating a rise of about 97.4 per cent.<\/p>\n\n\n\n

On a month-on-month basis, January 2026 outflows declined sharply by N92.84m, from N200.31m in December 2025, representing a drop of approximately 46.3 per cent.<\/p>\n\n\n\n

The January 2026 figure, while higher than the corresponding period in 2025, remains below several peak months in 2024 and 2025, suggesting outflows have not yet returned to the elevated levels seen in earlier periods.<\/p>\n\n\n\n

Remittances support household consumption, savings, investment, and foreign exchange supply. They have also become more important in recent years as the economy sought to diversify away from volatile oil earnings.<\/p>\n\n\n\n

Source:<\/em>https:\/\/punchng.com\/remittance-outflows-drop-36-as-reforms-stabilise-economy\/<\/em><\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Remittance outflows drop 36% as reforms stabilise economy Remittance outflows declined by N689.55m in 2025, reflecting a 36.09 per cent drop compared to 2024, according to data obtained from the Central Bank of Nigeria on Tuesday. Remittance outflows are money sent from a country to recipients in other countries. In simpler terms, it\u2019s when people,… <\/p>\n

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