In this publication
Search this Site and the Web
Wednesday, November 6, 2019
FG disputes $25bn Diaspora Remittance figure
Written by Victoria Ojeme & Omeiza Ajayi
Remittances to other countries
The Federal Government has disputed the $25 billion figure said to be the annual remittances of Nigerians in diaspora, saying the figure is actually higher.
Minister of Foreign Affairs, Mr Geoffrey Enyeama disclosed this Tuesday in Abuja at the opening of a two-day Technical Workshop on Diaspora Remittances and Sustainable Development under the chairmanship of the Kingdom of Belgium and the French Republic.
Enyeama who said the figure often bandied about is actually not a true reflection of diaspora remittances to Nigeria, however, said the challenge with most countries is how to channel such remittances to development.
“As you know, in the past few years, it is said that Nigerians in diaspora remittances is $25 billion. The figure being bandied about is $25billion per year in remittances.
“Well, I read not too long ago that this figure is inaccurate. It is very far from being accurate because when you logically think about it, it is huge and as they say, it even dwarfs the budget. It is hard to fathom. So, I think there is some debate as to how accurate that really is. But of course, we will love it to be that. There are huge resources coming into the country from Nigerians in diaspora and the challenge, as with most countries, is how to channel those resources to development”, he said.
The minister, who stressed the importance of diaspora remittances to sustainable national development, especially if properly harnessed urged stakeholders to, however, consider the cost of remitting the funds home, saying there was the need to make it easier for those in the diaspora to remit funds.
“In the past few years, the Nigerian diaspora has remitted billions of dollars to their kith and kin back home at a very high premium. According to the National Bureau of Statistics, in 2018, diaspora remittances to Nigeria was about U525 billion. This represents 6.1 per cent of our GDP and 83 per cent of our national budget. It is also 11 times the foreign direct investment flows into the country within the same period.
“This should show us the importance and the value that could derive from these remittances if properly harnessed. On the flip side, we should also consider the cost of remitting these funds back home. We therefore need to make it easier for those in the diaspora to remit funds back home and find ways of harnessing these funds for national development,” he urged.
He added that a well-managed migration would offer opportunities for individuals and States of all the concerned countries, adding that “the Rabat Process aims to foster solidarity, partnership and shared responsibility in the management of migration issues.
By sharing experiences and challenges, other countries learn best practices that would also enhance their development and address the root causes of migration.
“Let me also inform that Nigeria has participated in the Valletta Summit on Migration in 2015 in which an Action Plan was developed and built around five priority domains.
“It was also agreed that actions will be implemented in full coherence with countries’ sovereignty, national legislations and taking into account national specificities. It was further agreed that the existing mechanisms of the Rabat Process, the Khartoum Process and of the Joint EU-Africa Strategy will be used to monitor implementation.
“However, I must confess that much effort is; dedicated to domain 5, Return, Readmission and Reintegration while other domains that may actually address the issue of irregular migration are not receiving the desired attention, especially domain 2 (Legal Migration and Mobility). I must state that if we address regular migration, irregular migration would be history.
“I must also use this opportunity to thank all the MDAs that have contributed to the campaign against irregular migration. Nigeria and many other countries have lost many of their citizens in the desert and the Mediterranean Sea wishing to cross to Europe for greener pastures.
“While the menace is not completely addressed, it is heart-warming that it has reduced. The frequent capsizing of ships is not common anymore. This is a result of the combined efforts of the governments of concerned countries and other international partners,” he disclosed.
The technical workshop on diaspora remittances and sustainable development was organised by the Euro-African Dialogue on Migration and Development, also known as the Rabat Process.
The workshop which was chaired by the Kingdom of Belgium and the French Republic seeks to explore the issue of the productivity of diaspora remittances and instruments and initiatives which enable remittances to better contribute to sustainable development.
Although about 75 per cent of remittances are still used for important household consumption like payment for housing, school and medicals, the workshop noted that redirecting remittances into formal production (small-medium enterprises, start-ups
and job creation) is more likely to have long-lasting results on sustainable development.
“Many tools and strategies designed to optimise the contribution of remittances to economic, social and cultural development exist in the Rabat Process region, but there is a need to communicate more on these, and to share them more widely”, the main aim which the technical workshop seeks to achieve.
THE IGBO RANT
BIBLICAL TRADITIONS OF NDI IGBO BEFORE THE MISSIONARIES CAME TO AFRICA* IGBO 101.
THE IGBO TRIBE AND ITS FEAR OF EXTINCTION
The Igbo: We die for causes, not for personalities
Written by Emeka Maduewesi
~on fb. 28th September, 2016.
The Igbo will never die for anyone. We will not even riot for anyone. But the Igbo will die for any cause they believe in because the Igbo have a true sense of justice and a determination to obtain it.
The Igbo will not riot because one of their own lost an election. Operation Wetie was the Western response to a massively rigged 1965 election. The Yoruba doused fellow Yorubas in petrol and burnt them alife. Properties were burnt with occupants. The Igbo will never do this.
In 1983, the Yoruba went on a rampage again over the massive rigging by NPN. Lifes were lost and properties destroyed. The riots were over personalities.
Contrast that with Anambra State where Chief Emeka Ojukwu was rigged out by his own NPN, who also rigged out Chief Jim Nwobodo. The Igbo did not protest because the goat's head is still in the goat's bag.
In the North, ba muso was the battle cry when Sultan Dasuki was imposed on the Sokoto Caliphate. The riot and protest lasted for days and crippled economic activities.
The Igbo will riot over issues and causes. The Aba Women Riot was over Tax. The Enugu coal mine riot was about conditions of service. The Ekumeku Uprising was over British colonialization.
Those of "Ekumeku" ancestry - Umu Eze Chima and Umu Nri - were at the forefront of the struggles for Nigerian independence, with people like Dr. A A Nwafor Orizu and Chief Osita Agwuna serving prison terms. Any struggles the parents could not conclude is continued by the children by other means.
The Biafran war was a response to the genocide. The war in fact was brought upon us. The battlefield was Eastern Region. The war ended in 1970 but the issues and causes were not resolved. That is where we are today.
The Igbo will also jointly rise to fight evil in their midst. They did it in Onitsha in the 1980's, Owerri in the 90's, and with Bakkassi in the 2000.
The Igbo will not die for any man. But the Igbo will stand by any man who symbolizes their cause and their pursuit of justice. Even if the man dies, the struggle continues, and like the Ekumeku warriors, the children will pick up the baton from their parents.
This is the Igbo I know, the Igbo I am, and the Igbo we are. This is my story. Feel free to tell yours.
RT. HON. DR. NNAMDI AZIKIWE TO DR. CHUBA OKADIGBO (1981)
Biafra Videos: Explosive secret about Biafra...
Topics: Mindset of the enemy. Yoruba were in world's best universities when Usman dan fodio was still learning to ride a horse Th...