21 December 2016

Nigeria: Diaspora Remittance Hits U.S.$35 Billion in 2016

Photo: Premium Times
Naira-Dollar (file photo).

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

She sated this yesterday 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 Nigerians in diaspora can 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.

According to data from Global Knowledge Partnership on Migration and Development, remittances into Nigeria totalled $20.8 billion in 2015.

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

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