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Money Sent Home by Africans Abroad Has Powerful, $60 Billion Impact

The International Organisation for Migration (IOM) disclosed Monday that Africans in the Diaspora remitted a total of $60 billion to the Continent in 2012.

The World Bank had ranked Nigeria as the fifth among the top recipients of Diaspora remittances, while India is leading the pack of countries whose citizens send huge returns home.

Regional adviser of the organization for Africa, Charles Kwenin, disclosed this at the National Diaspora Policy Advocacy workshop held at the Nigerian National Assembly in Abuja.

Kwenin, who made a case for the formulation of a Diaspora policy in different countries across Africa, said such a policy would provide the framework in addressing the needs of Africans living in foreign countries.

He said that given the growing influence and relevance of Diaspora issues globally, Africa had no choice but to explore the opportunities available in it.

Speaker of the House of Representatives, Hon. Aminu Tambuwal, who declared the workshop open, hailed Nigerians in the Diaspora for their contributions toward the economic development of the country.
Tambuwal, represented by the House Leader, Hon. Mulikat Akande-Adeola, said Nigerians in the Diaspora have helped in no small measure in uplifting the living standards of those at home.

He said that Nigerians in the Diaspora could play pivotal roles in government’s effort to advance the social and economic development in the country.

The House, Tambuwal said, was working on ways to encourage Nigerians in the Diaspora to always remember home and contribute more meaningfully to national development.

He said that in addition to monetary remittances, Nigerians living abroad would be encouraged to invest in emerging industries in Nigeria. He charged the House Committee on Diaspora to ensure the protection of Nigerians living abroad as Diaspora issues had become and would continue to assume an important place in the country’s political agenda…

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