Don't Miss


Home   >   Business   >   Industries   >   Economy   >   Nigerians in Diaspora remit N10.35tn in four years

Nigerians in Diaspora remit N10.35tn in four years

By on July 10, 2015

The Nigerians in Diaspora Organisation on Thursday said its members remitted about $63.17bn (N10.35tn) to the country between 2011 and June 2014.

The Chairman, Board of Trustee, NIDO, Dr. George Manuwuike, stated this in Abuja during a news conference on the Diaspora Day 2015 scheduled to hold from July 23 to July 27 in Abuja, the New Agency of Nigeria reported.

He said that the Diaspora remittance was second only to oil and gas revenue as the highest foreign exchange injection into the Nigerian economy.

Manuwuike said, “As the umbrella organisation of Diaspora Nigerians, we are proud to associate with the phenomenal amount that Nigerians living abroad have been bringing to the national economy.

“Recently, the World Bank reported that between 2011 and June 2014, Nigerians in the Diaspora had remitted about $63.17bn (N10.35tn) to the country. In terms of remittance from her citizens living abroad, Nigeria was ranked fifth globally next to China, India, Philippines and Mexico.”

The chairman said that NIDO, since its inception in 2000, had served as a forum for the Nigerian Diaspora networking and advocacy.

He said that it had organised trade and investment conferences that brought together Nigerians and foreign investors for dialogue opportunities for technological, educational, industrial and other forms of investment in the country.

Manuwuike said that NIDO intended to reverse and convert the brain-drain the country had suffered for so long into “brain-gain.”

He added, “NIDO plans to ramp up its engagement in Nigeria to ensure that its mission and goals are achieved, and impact of its actions are felt by both the government and the Nigerian masses. It is for this and other purposes that a structure of NIDO has recently been registered here in Abuja as a non-governmental organisation.

“We believe that this action will instil confidence in NIDO as a partner with all our citizens and government at all levels.”

He said that the organisation wanted to use this year Diaspora Day to raise funds for a number of projects that were proposed for the benefit of the Nigerian people.

 

 

[Punch]