Wetin go happen? E be like say naija remittance don dey waka come down like say dem no wan send am again! According to the latest report from Central Bank of Nigeria (CBN), remittance inflows from abroad don drop by 11.78 percent for di first half of 2025.

Make we break am down: e mean say between January and June 2025, we collect $2.07 billion as remittance—but last year, for di same period, na $2.34 billion we see. Na about $275.93 million difference be dat. E no go fit clear wetin dey happen because na this money na im dey help our economy carry ground.

Dem fit wan ask wetin cause di decline? As per di figures, inflows no dey even sharp sharp, as only one month—April—showed some kind sweetness. From January down to March, na wah! For January, remittance drop from $390.86 million to $281.97 million, wetin dey about 27.86 percent decline. February follow suit, drop down to $288.82 million from $326.91 million; dat one na 11.65 percent decrease. March no be better month too, as e drop to $317.60 million from $363.76 million, a decline of 12.69 percent too.

But, wetin happen for April? Na wetin we go like to talk say e be the only light for di tunnel! Inflows rise come $597.44 million from April 2024 wey be $466.11 million last year; dat one na serious 28.18 percent increase. Na di best month wey dem fit talk say e carry the better news in six months.

Then May no gree follow April step again as e return back to $288.17 million from $404.75 million, na 28.80 percent drop wey again no dey make sense. June still follow am, as e drop to $292.25 million, a 25.02 percent decline from $389.79 million last year.

Naija, we be no say these remittances dey help support household spending, savings, investment and na dem dey assist our forex supply. As di economy dey try to move away from oil, e mean say we fit rely on this remittance small more.

But wetin be cause of this trend? Na fluctuations for di Forex market and wetin dey happen globally fit dey play key role for how our pipo dey send money come. Di CBN no give concrete reasons, but di data show say inflows dey feel di heat from local and international economic wahala.

Despite all di policy effort wey di CBN don try put down to stabilize di forex market, na so e be. For January 2024, dem lift di cap on exchange rates for di IMTO wey dey limit dem before. Also, dem increase di licence application fee from N500,000 to N10 million; dat one na serious increase over ten years!

However, even as we dey try improve di system and give approval for more IMTOs, di remittance wey we dey expect no seem to follow dat same trend for 2025. E be like say while di CBN dey talk say dem dey committed to attract non-oil foreign exchange, di data wey don come show say e still dey uneven.