Diasporan remittances between 2011 and last year are only second to oil and gas receipts

NIGERIANS living abroad remitted as whopping $63.17bn back home between 2011 and June last year according to figures recently published by the Nigerians in Diaspora Organisation (Nido).

 

Speaking yesterday in Abuja ahead of the planned Diaspora Day 2015, Dr George Manuwuike, the chairman of Nido's board of trustees said the diaspora remittance was second only to oil and gas revenue as the highest foreign exchange injection to the economy. This year's diaspora workshop will take place between July 23 and 27 in Abuja and is expected to be attended by thousands of Nigerians from abroad.

 

Dr 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 to June 2014, Nigerians in the diaspora had remitted about 63.17bn (N10.35trn) into the country and in terms of remittance from her citizens living abroad, Nigeria was ranked five globally next to China, India, Philippines and Mexico.”

 

He added that since its inception in 2000, Nido had served as a forum for Nigerian diaspora networking and advocacy. According to Dr Manuwuike, it had organised tens of trade and investment conferences that brought Nigerians and foreign investors together for dialogue opportunities, technological, educational, industrial and other forms of investment in Nigeria.

 

In addition, he said Nido intended to reverse and convert the brain-drain the country had suffered for so long into brain-gain. Dr Manuwuike stressed that the organisation wanted to use this year's Diaspora Day to raise funds for a number of projects that were proposed for the benefit of Nigerian people.

 

“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 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," Dr Manuwuike added.

 

According to him, key among the projects Nido plans to work on are a multi-million naira diagnostic and trauma centre and a Boko Haram Victims Rehabilitation Fund to assist victims of terrorism and minimise the trauma experienced by survivors. He added that this would be done through facilitating access to proper medical and psychological treatment through the Diaspora Liaison Office in Abuja.