Leadership (Abuja)
Enyeribe Anyanwu
25 August 2008
Nigerians living abroad remitted the sum of US$17.9 billion back home last year (2007), compared to the $10.5 and $6.5billion they remitted in 2005 and 2006 respectively.
The Federal Government's Economic Management Team (EMT), which disclosed this in Lagos recently, attributed the rising remittances to the increased confidence in the economy. The committee said the economy was buoyant and now well-rated by international rating agencies.
"Both Fitch and Standard and Poor rating agencies have reaffirmed Nigeria 's overall rating at BB-and indicated the outlook to be stable," said Dr. Shamsudden Usman, Finance Minister and Chairman of the Economic Management Team.
Dr. Usman said the country's debt profile was sustainable, with a substantial part of it in local currency.
Dwelling on the outlook of the economy for the second half of the year 2008, the EMT chairman expressed optimism of an increase in foreign investment inflow, especially with the planned PPP framework and continued economic reforms.
According to Usman, "domestic production is expected to increase with improvement in the power sector, while external reserves will continue to be favourable due to favourable international oil prices. Exchange rate will also remain stable," he said.
However, the committee identified some factors which might work against the economy for the rest of the year. These include: the Niger Delta crisis, inflationary pressures arising from high food and energy prices; especially diesel, slow implementation of the capital budget and the high growth rate of broad money.
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It was when I arrived in UK, that I realised the extent of the damage our visionless and corrupt leaders have done to the Nigerian nation and her citizens. Could you believe that to most people here in UK, it is a crime in its self to be a Nigerian. People could be warm and nice to you but immediately they learnt that you are a Nigerian, their attitude will change automatically. Every thing about you is viewed with suspicion. Where you work, you are monitored like a potential suicide bomber. Whatever you do is scrutinised over and over again. People are only looking for faults in what you do and nobody is keen to give you credit where you excelled.I read an article in 1982, during the austerity regime of Shehu Shagari titled ,"The Devaluation Of The Nigerian." I have just begun to understand this topic because, before now I thought that it is only the naira that can be devalued. Raph Uwazulike in a recent interview said that the meaning of one Nigeria is STEALING and I don't think that any body can fault that if we face facts. The story of our successive governments has been that of looting and embezzlement but that will not prevent us living abroad from sending money home to help our impoverished and deprived people. What we have is a Banana Republic Government which does not care for the welfare of our people. All they are interested in is the removal of oil sudsidy and the hicking of the pump price of fuel so as to have enough fund to loot. We cannot afford to abandon our people too. May God help us.
We better stop sending money home to a country whose corrupt leaders have tarnished the image of every Nigerian living abroad. Besides, if we continue to transfer USD to Nigeria, we are subsidizing, aiding and abetting the corrupt elements in govt thereby delaying the inevitable people's revolution that is bound to happen given the way govt deny basic health to the poor, prohibits and threaten to fire any govt worker (the electorates)that dare to criticize the Yar's administration's poor performance and a Congress that is colluding to hide 419 kingpins among them under the cloak of honorability which they all don't deserve. Of course, there is honor among thieves - don't rat on each other.
Nigerians abroad have always done their very best to help relatives back home,build infrastructures etc thereby helping the Nigerian economy. Nigerians are one of the most hard working, intelligent, enterprising and vibrant human beings on earth. Where ever we are, we excell. That is why it pains us why the people in government back home never seems to get anything right. We work hard to keep the economy affloat while the people in government back home spend all their time stealing money left, right and center and sending the stolen moneys out to foreign banks. With the expertise Nigeria boasts at home and in the diaspora, we ought to be a real great nation. So I am using this phora to call on the people who find themselves at the helm of affairs in Nigeria to please do service to our nation and humanity and stop the blind stealing. Whenever we read about the blatant loot of our economy our hearts bleed. We all want this nation to succeed and be a great Nation. But no nation can ever be built with thieves in every angle of government. No nation can be built with Tribalism. No nation can be built with favouritism, Nepotism, Bribery and Corruption etc. The semblance of economic stability we have now was because of Obasanjos economic reforms. If Yaradua could stop reversing things, and build on the few succeses of OBJ while making other inroads of his own, we would be on the verge of reclaiming our greatness. Nigerian Government officials, Senators, Parliamanterians etc please stop stealing us blind, you make us a thing of mockery in the eyes of the civilised world when you behave the way you do back home. The world is a global village and everyone gets to know anything that is happening in any part of the world.