Nigerians living abroad have sent about $63.17 billion equivalent of N10.35 trillion to the country between 2011 and June 2014 which it is said to the second highest foreign exchange earnings after oil and gas to the country.
The Nigerians In Diaspora Organisation(NIDO) made this revelation in Abuja on Thursday July 1014. The chairman, Board of Trustee, Dr George Manuwuike, disclosed this during news conference on the Diaspora Day 2015 scheduled to hold from July 23 to July 27 in, the New Agency of Nigeria reports.
He added 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 $63.17 bn (N10.35 tn) 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 added that NIDO, since its inception in 2000, had served as a forum for the Nigerian Diaspora networking and advocacy. He explained that it had be an avenue for bringing Nigerians and foreign investors together for dialogue opportunities for technological, educational, industrial and other forms of investment in the country.
Manuwuike further stressed that the major purpose of the forum is to reverse and convert the brain-drain the country had suffered for so long into “brain-gain.” He said: “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.”
The NIDO chairman revealed that the purpose of this year Diaspora Day is to raise funds for a number of projects that were proposed for the benefit of the Nigerian people.
