President Bola Tinubu has revealed that Nigerians living abroad remitted about $646 million in the first five months of 2024 to the country.
Speaking at the 2024 National Diaspora Day Celebrations in Abuja on Thursday, with the Secretary to the Government of the Federation, George Akume, representing him, the president highlighted the substantial contribution of the Diaspora to Nigeria’s economy with the $646 million in remittances from January to May 2024.
He detailed the monthly remittances, stating, “The CBN has recently introduced some reforms in the sector, and the reforms are yielding fast results. In January, remittances totalled $138.56 million. We recorded $39 million in February, $104 million in March, $193 million in April, and $365 million in May 2024. The progression reflects the level of trust and the positive impacts of the mandatory reforms implemented by the Central Bank.”
Speaking further, Tinubu noted that estimates from the Nigerian High Commission in Ottawa, Canada, suggest approximately 200,000 to 250,000 Nigerians live in Canada, with between 10 million and 14 million Nigerians in the diaspora overall, many in other African countries. Recent data from the Nigerian Immigration Service indicated that 3.7 million Nigerians emigrated between 2022 and September 2023, while Nigeria received 1.3 million immigrants during the same period, making it the 46th country with the most immigrants globally.
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The President, however, urged Nigerians living abroad to remember that “there is no place like home”.
Reflecting on his own experience of living and working abroad before returning to Nigeria to contribute to its development, the President said: “As someone who once lived and worked abroad, I can attest that migration can be transformative and serious. In the 1970s, I went to the United States, where I studied and worked, before returning to Nigeria to contribute to nation-building. I, therefore, urge our citizens who relocate abroad to remember that there is no place like home. We expect them to bring back their experiences to support our development agenda.”
He acknowledged the benefits of migration but emphasized the importance of not forgetting one’s homeland, saying, “As we celebrate our diaspora community, we must acknowledge the implication of this phenomenon for our collective growth. We cannot begrudge our citizens who are seeking better opportunities abroad, but we must urge them not to forget their homeland.”
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