According to report reaching oyogist.com, Covid-19 pandemic has impacted the Nigerian economy has direct remittances declined by 97.3% between January and September 2020.
Recall that it was declared that Nigeria is currently in recession for the second time in five years.
Oyogist.com gathered that by January 2020 the direct remittances was $2.05bn and had declined to $54. 4m by September 2020.
“Jan 2020- $2.05bn
Feb 2020 – $1.02bn
Mar 2020 – $444.8m
Apr 2020 – $392.3m
May 2020 – $252.8m
Jun 2020 – $446.2m
Jul 2020 – $118.8m
Aug 2020 – $217.8m
Sep 2020 – $54.4m”
