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Nigeria's naira notes. Migrant workers are no longer just traveling to developed nations for work (traditional south to north migration patterns), opportunities lie closer to home / Photo: IFII

Nigerians abroad remitted $35b so far in 2016

Remittances from Nigerians living abroad from January to November 2016 have hit $35 billion, Senior Special Assistant to the president on Foreign Affairs and the Diaspora, Mrs Abike Dabiri-Erewa has said.

She revealed the figures on 20 December in Abuja when she paid a courtesy call on the Chairman, Federal Inland Revenue Service (FIRS), Tunde Fowler. She said she was on the visit to seek ways for Nigerians in diaspora could get tax incentives to encourage them to invest more locally.

“In 2016, Nigerians living abroad remitted $35 billion, higher than 2015. This is the highest in Africa and the third largest in the world. Nigerians are excelling all over the world,” She said.

Responding, the FIRS chairman said he would discuss with the federal ministry of finance on incentives for diaspora investors.

According to data from Global Knowledge Partnership on Migration and Development, remittances into Nigeria totalled $20.8 billion in 2015. Top countries sending to Nigeria include the United Kingdom, Germany and United States, where many Nigerians reside. // Sesan Adeola

 

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