Nigeria Remittance and Bill Payments Market Outlook by Inbound and Outbound International Remittance, By Mode of Transfer (Cash or Electronic Transfers), By Channel (Bank and Non-Bank) – Outlook to 2022 REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The report titled “Nigeria Remittance and Bill Payments Market Outlook by Inbound and Outbound International Remittance, By Mode of Transfer (Cash or Electronic Transfers), By Channel (Bank and Non-Bank) – Outlook to 2022” provides a comprehensive analysis of international inbound, outbound, domestic remittance and bill payments market in Nigeria. The report covers market size, segmentation on the basis of inbound, outbound remittance, remittance channel, and mode of transfer and remittance corridor for international remittance market along with market share of major MTOs. For domestic remittance market, the report covers market size, segmentation on the basis of region and major remittance channel (bank, MTO, e-wallet/ mobile money, Post office) and the market share of major players. It also includes the bill payments market in the country covering the market size and segmentation of market by type of bills and bill payment methods. The report also covers government regulations in the market, competitive landscape and company profiles for major players in the remittance and bill payments market. The report provides detailed overview on future outlook & projections with analyst recommendations for the industry. The report facilitate the readers with the identification and in-depth analysis of the existing and future trends, issues and challenges prevalent in the industry and anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for money transfer operators, banks, bill payment portals and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future. Industry Overview Nigerian remittance market is dominated by the International remittance. The international remittance holds a major share of the market and was about ~% of the total market in 2016 in terms of transaction volume. United States, United Kingdom and European countries are the major sources of remittance in Nigeria. Growing number of migrants has a direct and positive impact on the growth of the remittance industry. Internal migration is also on the rise in Nigeria. Availability of jobs and migration has collectively stimulated growth of the international as well as domestic remittance industry. The growth in the industrial and communication sectors have substantially given rise to the job opportunities in the country. In the past few years, the growth of the bill payment market has been over ~% in Nigeria. The robust growth in the bill payment market is that Nigeria has seen a rapid increase in the number of households growing, number of smart phone subscribers and internet users. Market Segmentation of Nigeria Remittance and Bill Payments Market International Remittance Market International remittance market in Nigeria is segmented on the basis of remittance inbound outbound remittance, channel, mode of transfer and remittance corridors. International remittance in Nigeria is largely dominated by the remittance inflow from other counties. Inflow of remittance from other countries has contributed a share of ~% in the overall revenues of the industry. In terms of Diaspora remittance inflow, the market is dominated by banks that account for a share of ~% in 2016 followed by other non-bank channels. Electronic mode of transfer dominates the market with a share of ~% in 2016 in the Diaspora remittance inflow. It is followed by cash. US-India represents the major international remittance corridor followed by UK and other European countries. Domestic Remittance and Bill Payments Market Domestic remittance market in Nigeria is segmented on the basis of region and remittance channel. Internal migration is the key driver for domestic remittance in the country. The main reasons for people to migrate from rural areas are better paying jobs, better standards of living and higher education. As of 2016, the market is dominated by banks with a share of ~% followed by the non-banking channels. Bill payments market is dominated by the grocery bills that held a share of ~% in 2016 followed by utility bills, fuel bills, mobile recharges and broadband and DTH payments. Future Potential of Nigeria Remittance and Bill Payments Market The Nigeria remittance and bill payments market has witnessed a considerable growth in past five years and the market is anticipated to grow at a CAGR of ~% during the forecast period, 2017-2021. The growth in the market during the forecast period can be attributed to factors such as rising number of international migrants, more employment opportunities in cities which resulted in internal migration and increasing use of mobile and internet in the country. Competitive Landscape International remittance market is a highly competitive market. In Nigeria international remittances are carried out through banks and international MTOs (IMTOs). Banks have the major share in the transfer. Some of the major banks in the space include Guaranty Trust Bank, Eco Bank, Fidelity Bank and others. There are three major international MTOs that hold more than ~% share in the market. These IMTOs are competing on the basis of number of transactions, volume of transaction, number of branches, services offered and others. The IMTOs in the country include Western Union, Moneygram, Ria and others. Domestic remittance in the country is dominated by banks as a mode of preferred channel. ~% of the domestic remittance market is shared by a number of non-bank financial organizations and companies. These organizations compete with each other on the basis of penetration in rural areas, interconnectivity, fee charged, security of transaction made and other aspects. Key Topics Covered in the Report: Nigeria Remittance and Bill Payments Market Overview and Genesis Value Chain Analysis in Nigeria Remittance Market Nigeria International Remittance Market Size Nigeria International Remittance Market Segmentation Future Outlook and Projections of Nigeria International Remittance Market Nigeria Domestic Remittance Market Size Nigeria Domestic Remittance Market Segmentation Future Outlook and Projections of Nigeria Domestic Remittance Market Nigeria Bill Payments Market Size Nigeria Bill Payments Market Segmentation Future Outlook and Projections of Nigeria Bill Payments Market Trends and Developments in Nigeria Remittance and Bill Payments Market Issues and Challenges in Nigeria Remittance and Bill Payments Market SWOT Analysis of Nigeria Remittance and Bill Payments Market Competitive Landscape of Major Players in Nigeria Remittance and Bill Payments Market Macroeconomic Factors affecting Nigeria Remittance and Bill Payments Market For More Information on the Research Report, refer to below links: – Nigeria Remittance and Bill Payments Market Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Tags: Average Remittance Size Nigeria, Bill Payment Market Nigeria, Internal Migration in Nigeria, International Inbound Remittance Nigeria, International Migration in Nigeria, Mobile Money Transfer Industry in Nigeria, Money Transfer Industry Nigeria, Money Transfer Within Nigeria, Nigeria Remittance Market, Number of Money Transfer Transactions Nigeria, Outbound Remittance Market Nigeria, Transaction Volume Remittance Nigeria