An Assistant Professor of Criminal Justice at Southern University and A&M College in Baton Rouge, Prof Abiodun Raufu, has advised President Bola Tinubu to target increase in diaspora remittances.

Raufu, who was former editor of Nigerian Tribune Newspapers, also noted that the current remittance, approximately $22 billion, was considered a mere fraction of the potential $70 billion that could be remitted if proactive measures were implemented.

He emphasized that Nigeria, currently ranked seventh globally in remittance receipts, could substantially enhance its inflows by bolstering confidence and devising effective strategies.

Raufu advocated governmental initiatives that inspired trust, political commitment to combat corruption, and efforts to address infrastructure deficits.

Highlighting global trends, Professor Raufu said among developing nations, India was the largest recipient of remittances, with $125 billion in 2023; followed by Mexico ($67 billion); the Philippines ($40 billion), and Egypt ($24 billion).

"Despite Nigeria receiving $22 billion in 2022, projections for 2023 indicate marginal changes unless deliberate actions are taken," he noted.

According to him, many Nigerians abroad hesitate to invest or visit due to prevailing challenges, and suggested that President Tinubu can change the narrative by improving the security situation in the country.