Nigerian diaspora remittances approach $1bn a month
By the AFREEQUE newsroom, based on Businessday
Remittances from Nigerians living abroad are approaching $1 billion a month, according to the Nigerians in Diaspora Commission. Its chair, Abike Dabiri-Erewa, says these transfers and investments support health, agriculture, food processing and information technology, among other sectors.
Monthly remittances from Nigerians living abroad are approaching $1 billion, the Nigerians in Diaspora Commission (NiDCOM) said on Tuesday, according to Businessday. The commission praised their contribution to the national economy through money sent to families and investments.
Nigeria’s foreign reserves are also approaching $60 billion, NiDCOM added, describing these developments as encouraging despite the economic difficulties of the past three years. Its chair and chief executive, Abike Dabiri-Erewa, called on Nigerians abroad to continue their support and investment.
According to the commission, diaspora investment is directed in particular to health, agriculture, food processing and information and communications technology. It says these investments support businesses, help create jobs and facilitate the transfer of skills.
NiDCOM cited several initiatives aimed at mobilising these resources, including National Diaspora Day, the Nigerian Diaspora Investment Summit and an economic conference recently held in Canada. It says it intends to continue working with stakeholders to facilitate investment.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
