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54% of Nigerians Receive Remittances – NBS

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Bala Augie
Bala Augiehttps://moneycentral.com.ng
Bala is the Editor of MoneyCentral Media. Bala is a Fellow (FCA) of the Institute of Chartered Accountants in Nigeria (ICAN) and holds a Bsc in Accounting from the University of Abuja. Bala has over 12 years’ experience in the financial journalism landscape with specialization in the Insurance, markets and Finance sectors.
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Large share of households – 54.0 percent report receiving remittances in Nigeria according to the latest living standards survey released by the National Bureau of Statistics (NBS).

Of the amount, 52.7 percent receive remittance from someone in Nigeria and 5.7 percent from abroad.

The state of Kebbi has the largest share of household-remittance-recipients at 81.4 percent, while Sokoto has the lowest number, only 5.6 percent receive any remittance.

The average value of domestic remittance is N62,492 and of international remittance is N84,741.

More than 80 percent of households who receive remittance report using the transfers for consumption purposes.

See full report here.

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