According to the Nigerians in Diaspora Commission (NiDCOM), Nigeria pulled in $1.57 billion through diaspora remittances during the second quarter of 2026, marking the highest quarterly total recorded in seven years.
The amount represents an increase of approximately 33 per cent compared with the $1.18 billion received in the corresponding period of 2025.
NiDCOM Chairman and Chief Executive Officer, Abike Dabiri-Erewa, welcomed the development in a statement issued in Abuja on Friday, describing it as evidence of the growing contribution of Nigerians living abroad to the country’s economic growth and stability.
According to the Commission, the Central Bank of Nigeria’s Q2 2026 Statistical Bulletin shows that the latest inflow is the highest quarterly remittance figure in the available data series covering 2019 to 2026.
It also surpasses the previous record of approximately $1.47 billion recorded in the third quarter of 2024.
Dabiri-Erewa attributed the improvement to the economic reforms of President Bola Tinubu’s administration and policies introduced by the Central Bank of Nigeria under its Governor, Olayemi Cardoso.
She commended Nigerians in the diaspora for their continued financial support for families at home and their contributions to the wider economy.
The NiDCOM chief also disclosed that Nigerians abroad were increasingly investing in the country, particularly in healthcare, agriculture, technology and information and communications technology.
Beyond supporting household consumption, the Commission said diaspora remittances provide an important source of foreign exchange through formal financial channels, with the potential to improve transparency in the currency market and strengthen economic stability.
It added that sustaining the growth would require greater confidence in regulated international money transfer channels and an enabling environment to attract more diaspora investments.
The latest figures highlight the growing importance of Nigerians abroad as a source of foreign exchange and a potential driver of investment, economic activity and household welfare.
What You Should Know
Nigeria’s diaspora remittances surged to $1.57 billion in the second quarter of 2026, driven by ongoing economic reforms and central bank policies. This milestone reflects the growing financial engagement of Nigerians abroad in supporting families back home and investing in key domestic sectors.
- Economic Stability: The substantial inflow provides a vital boost to the country’s foreign exchange reserves and helps strengthen the stability of the currency market through formal financial channels.
- Increased Investment: Beyond household support, funds are increasingly directed toward productive sectors like agriculture, technology, and healthcare, creating fresh opportunities for economic growth.
