Diaspora remittance of $20 billion in 2021 surpassed FDI: Buhari

Diaspora remittance of $20 billion in 2021 surpassed Foreign Direct Investment (FDI) into Nigeria, President Muhammadu Buhari said in Washington on Friday.

The president made the remark at a town hall meeting held with Nigerians on Friday in Washington as he rounded off his participation at the US-Africa leaders’ summit.

Garba Shehu, one of the president’s media aides, quoted Mr Buhari as commending Nigerians in the diaspora in a statement issued on Saturday in Abuja.

“I understand that in 2021, our diaspora home remittances through official channels stood at 20 billion dollars which is four times more than the value of our Foreign Direct Investment.

“In addition, many of our diaspora compatriots are actively investing in our healthcare, agriculture, education, Information and Communication Technology, housing and real estate, transportation, oil and gas, and other services.

“I must say this is most commendable and in our enlightened collective self-interest as only Nigerians both at home and abroad can develop Nigeria.

“I am personally proud of you all,” Mr Shehu quoted the president as saying.

He stated that the president also expressed pleasure at the conduct of Nigerians who had continued to excel in their chosen fields in the U.S.

He added that Mr Buhari assured Nigerians residing abroad that the Nigerian government would continue to watch their backs in whichever situation they found themselves.

Mr Buhari said he had given approval for the evacuation of Nigerians who found themselves in harm’s way in Libya, South Africa, Ukraine, United Arab Emirates and in India.

He added that it was one of the reasons behind the establishment of the Nigerians in Diaspora Commission (NiDCOM) to facilitate interactions with the “ambassadors”.

The president urged Nigerians living abroad to continue to be good ambassadors and to live in peace among themselves and with their hosts as “there can be no progress in disunity.”

President Buhari expressed delight that the “ambassadors’’ were giving back to Nigeria as expected of them, urging them to do more.

“It is gratifying for me to note that many Nigerians in the U.S.A. have continued to excel in their careers leading to some persons of Nigerian origin being appointed into the cabinet of President Joe Biden.

“Similarly, many have been elected or appointed into various responsible and competitive positions in the United States of America.

“I congratulate those who have brought honour and pride to our country. I thank and commend them for their respective successes.

“I equally urge them to demonstrate the highest sense of responsibility to continue to remain reference points of excellence as they serve in this country,” Mr Buhari was quoted as saying.

Buhari told the gathering that it would be the last time he would be addressing it at a town hall meeting in Washington as president.


Originally Posted By People's Gazette
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