Sunday Dare, the Former Minister of Sports and Youth Development, has urged the Bola Tinubu-led federal government to prioritize the utilization of the financial resources held by Nigerians living abroad.
His statement comes in response to the recent foreign remittance reports for the fiscal year 2023, which shed light on the significant contribution of Nigerians in the diaspora.
According to the report, Nigerians in the diaspora sent a total of $19.55 billion back home, making Nigeria the top recipient of remittances in Africa. Egypt closely followed with a total remittance of $19.53 billion, while Moroccans in the diaspora remitted $11.75 billion.
Among other West African countries, Ghanaians remitted $4.63 billion, Kenyans sent $4.16 billion, Zimbabwe citizens in the diaspora contributed $3.08 billion, and Senegal citizens remitted $2.94 billion.
Tunisia secured a spot in the top ten with a total remittance of $2.94 billion, followed by Algeria with $1.86 billion and the Democratic Republic of Congo with $1.4 billion.
Sunday Dare, in his remarks on the World Bank’s 2023 remittance report, highlighted the immense value of Nigerians in the diaspora.
He urged the federal government to devise strategies to leverage these substantial remittances, particularly those channeled through the banking system, for the benefit of the nation.
“Nigeria leads the way in remittances. The federal government must explore avenues to tap into these massive funds, especially those flowing through the banking system. Nigerians in the diaspora are a valuable asset,” Dare emphasized.
