With about $21 billion sent home by Nigerians in diaspora in 2015, the country is the sixth largest receiver of remittances in the world, the Migration of Remittance Factbook 2016 has shown.
The country is also by far the largest receiver of remittances in sub-Saharan Africa, receiving a total of $34.8 billion this year.
The report, which relied on data gathered from January to December 1, 2015, was compiled by the Global Knowledge Partnership on Migration and Development with support from the World Bank, German, Swedish and Swiss governments.
An analysis of the report by PREMIUM TIMES also shows that the United States and the United Kingdom are by far the most lucrative destinations for Nigerian migrants. Nigerians at home received a total of $9.4 billion ($5.7 billion from the US and $3.7 billion from the UK) from both countries in 2015.
The country is also by far the largest receiver of remittances in sub-Saharan Africa, receiving a total of $34.8 billion this year.
The report, which relied on data gathered from January to December 1, 2015, was compiled by the Global Knowledge Partnership on Migration and Development with support from the World Bank, German, Swedish and Swiss governments.
An analysis of the report by PREMIUM TIMES also shows that the United States and the United Kingdom are by far the most lucrative destinations for Nigerian migrants. Nigerians at home received a total of $9.4 billion ($5.7 billion from the US and $3.7 billion from the UK) from both countries in 2015.