Nigeria is Africa’s most potential and growing country that receives remittance from all the overseas Nigerian people. Today it is very easy to send money online to any country and the overseas Nigerian People send money to Nigeria from all over the World. Let us see how the remittance is working for Nigeria.
Remittance to Nigeria:
Africa is the part of the world that is not that developed and has underdeveloped and developing countries. Nigeria is a country in Africa that has a good economy and has emerged as a growing nation. Nigerians are dispersed all over the world in almost all the continents. The Nigerian immigrated to other developed nations in search of better jobs and working opportunities. And the Nigerians are the most educated immigrants and earn a good income. These overseas Nigerians regularly send money to Nigeria. And the regular money transfers to Nigeria, making it the top remittance-receiving African country. The overseas people of Nigeria send money to Nigeria from the UK, America, and Europe, etc. And this remittance from all over the world is helping Nigerian people to lift both the micro and macro-level economy.
Role of Remittance in Nigeria:
The remittance is very important in boosting the economy of someone’s home and the country as well. Almost seventeen million Nigerian expats are living overseas that send about 96 billion US dollars. Mostly the Nigerians send money to Nigeria from the UK, USA, and UAE, etc. The amount of remittance to Nigeria is further expected to be increased in the coming years. So the money transfers to Nigeria by the overseas Nigerians are making their country to rise in GDP and to have a stronger economy. On a personal level, the families receiving the remittance have a better lifestyle and are having a quality of life in Nigeria.
Factors Contributing To Money Transfer to Nigeria:
The increasing remittance that Nigeria receives it may be because of the increasing global economic condition of the world. So the overseas Nigerians are earning well in other countries and sending more money to Nigeria. Nigerians are dispersed in developed and well-established countries. And being a literate expat, a Nigerian will earn more than others. So it contributes to the fact that Nigerians send money to Nigeria in a pretty big amount. Moreover, the ease to send money globally anywhere has made it easy to make a money transfer to Nigeria online. So people can now frequently send money to Nigeria online with ease and convenience. The adopted measures of the country related to remittance have made it get more of it. Nigeria has made the inflow of remittance easier and thus receives more money. The following are some other factors that have contributed to increased remittance.
· Smooth Money Transfer to Nigeria:
This digital world has made online money transfer so easy that one can send money globally anytime. You can send money online with a lot more ease through different available money transfer services. The money transfer to Nigeria online from any part of the world is also very convenient now.
· Instant Money Transfer to Nigeria:
One can now send money instantly to the loved ones in Nigeria. Online money transfer through any money transfer company like ACE Money Transfer is very quick and fast. And the money is instantly available for the receiver to collect it from the cash pickup point.
· Inexpensive Money Transfer:
The money transfer services to send money to Nigeria are very inexpensive and cost-effective. Money transfer organizations cost a minimum fee transfer fee for Nigeria. ACE Money transfer costs the lowest fee among all other competitive organizations.
· Safe Money Transfer to Nigeria:
Overseas people can choose any bank or a reputed money transfer company to send money to Nigeria online. These are the safe and secure ways to send money safely to the loved ones in Nigeria.
· Convenient Money Transfer:
The technology and advancement in money transfer have made it so convenient to send money anywhere. The online money transfer app or websites of banks and money transfer organizations or mobile wallets are used to make money transfer. You can make the money transfer through your phone using the money transfer app. Different operations and account management can be performed through the money transfer app on your mobile. ACE Money Transfer app is also available for the customer to make operations through the online money transfer app. You can now make money transfer while having your supper or sitting in your bedroom through any such app like ACE Money Transfer.
Nigeria is among the top countries of Africa having a high remittance inflow. Overseas Nigerian from all over the world sends a whole good amount of remittance to Nigeria. And this number is increasing with time and expected to increase further in the future. The global trends, ease of money transfer and effective measures of the Nigerian government make Nigeria receive good emittance. And this remittance is lifting the economical conditions of the people and their country.