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How Brexit Will Affect Nigerians In Diaspora And Those In Nigeria - Foreign Affairs - Nairaland

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How Brexit Will Affect Nigerians In Diaspora And Those In Nigeria by ell77(f): 9:32am On Jun 24, 2016
These are just my opinions as a British Nigerian in the UK.

Why there may be less jobs for those in Diaspora, less Nigerian migration to UK and less money remittances home

The service sector dominates the UK economy, contributing around 78% of GDP; the financial services industry is particularly important and London is the world's largest financial centre. If companies want a European Base they normally put a London base as their first choice. Between 2004 and 2014, £581bn was invested into the UK by foreign businesses. More than half of this total came from outside the EU, with the UK’s access to the single market being a prime motivator.

However, leaving EU may mean having a UK based has no access to the single market and trading with Europe attracts more taxes making it more expensive so they may shift their offices like JPMorgan has intimated.

The automotive industry is also a major employer and exporter. They have public stated leaving EU would be bad for business, so you know that may lead to them moving to Germany and job losses in UK. The British economy is boosted by North Sea oil and gas production; its reserves were valued at an estimated £120 billion in 2011. All of Scotland voted remain so there may be a new Referendum with Scotland wishing to leave UK. This will reduce money coming to England. Most of England voted leave with only London voting to remain. Those areas that voted leave are areas that are quite honestly filled with a higher number of racist and/or Brits (who don't often have the education to back their arrogance but continually revert back to "the good old colonial days"wink. The vote to leave campaign was largely based on people not wanting immigration. So now that the PM has stepped down. Another issue is who will be the next PM. Boris Johnson does not look stable. Michael Gove may be a better choice for conservatives but he needs sound economic policies. If after conservative party tenure finishes the Brits vote Nigel Farage, who alongside Boris spearheaded the Brexit immigrants of all races will suffer. As whatever he has said, fundamentally, he is a racist, supported by rascists. Including the BNP, a party who believe anyone not white (even if British), should be packed into ships and thrown out of UK.

How it could favour us
Right now things look bleak as the Gbp has already crashed in line with my statements above. But this could end up being a good thing under the right leadership with the right civilians also. It could in the long term be favourable. If people foster a manufacturing based economy and the pound remains low. It may mean more exports (especially outside EU) as our goods will become more affordable. This may mean more jobs for the right skillset. But it won't happen overnight.

The truth as I said is this all boils down to leadership. Brexit has happened. What Nigerians need to think of is now the next election. Who is best served to strengthen the economy? Who has our Nigerian interests at heart (diaspora and at home)? Don't just listen to campaign promises I urge you. These politicians all lie to get what they want. Who actually would given their acquaintances, background, success in their own work and actually having a written manifesto be best placed for the task cum opportunity ahead?
Re: How Brexit Will Affect Nigerians In Diaspora And Those In Nigeria by votemysticgal16(f): 9:35am On Jun 24, 2016
All I can say is that Brexit is a bad move.
Re: How Brexit Will Affect Nigerians In Diaspora And Those In Nigeria by ell77(f): 12:03pm On Jun 24, 2016
votemysticgal16:
All I can say is that Brexit is a bad move.

It certainly seems so. But let's wait and see. It can still work in our favour depending on who is our new leader.
Re: How Brexit Will Affect Nigerians In Diaspora And Those In Nigeria by lepasharon(f): 10:30pm On Jun 25, 2016
I don't think it should affect those in the UK, but rather those outside.

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