Nigerians living abroad sent 22bn home in 2017 world bank

A great piece of information!

Yes, according to the World Bank, in 2017, Nigerians living abroad remitted a total of $22 billion (approximately 22 billion Nigerian Naira) back to Nigeria. This is a significant amount, considering the country's economy and the impact it has on the lives of many Nigerians.

Remittances from Nigerians abroad have been a vital source of foreign exchange for the country, helping to stabilize the economy and support development projects. In fact, remittances have been a major contributor to Nigeria's foreign exchange earnings, accounting for a significant portion of the country's total foreign exchange inflows.

The World Bank's report on remittances in 2017 noted that Nigeria was among the top 10 remittance-receiving countries in the world, with remittances accounting for about 6.1% of the country's GDP.

It's worth noting that remittances from Nigerians abroad have been increasing over the years, driven by factors such as the growth of the Nigerian diaspora, improved communication and financial technologies, and the increasing economic opportunities in Nigeria.

Overall, the $22 billion remitted by Nigerians abroad in 2017 is a testament to the important role that diaspora communities play in supporting their home countries and contributing to economic development.