Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b (2917 Views)
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| Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by sulad82i(m): 1:41am On Dec 09, 2011 |
http://tribune.com.ng/index.php/front-page-news/32559-nigerians-abroad-face-hard-times-as-they-beg-people-at-home-for-money-remittances-from-abroad-reduce-to-5bn-annually Written by Gbola Subair, Abuja Friday, 09 December 2011 FOLLOWING the harsh economic situation being experienced by European countries and the United States of America, Nigerians in the diaspora are now going through difficult times and have resorted to begging money from those at home. As a result of this, remittances from Nigerians in the diaspora have reduced from $12 billion to about $5 bilion annually. The Director-General (DG), Budget Office of the Federation, Dr Bright Okogu, made this revelation on Thursday in Abuja, while speaking on “achieving inclusive growth through pro-poor spending” at the third economic policy and fiscal strategy seminar, organised by the Centre for the Study of Economies of Africa (CSEA). According to Okogu, the sovereign debt crisis and the declining Gross Domestic Product in Europe, low manufacturing output in France, Germany, Italy and Spain and growing US debt to the Gross Domestic Product ratio have led to situations where Nigerians abroad are now finding it difficult to make ends meet. To survive the harsh economic climate abroad, Okogu said these Nigerians now beg their relations at home to send money to them. “This is what I have seen, this is what I have heard, and it is as bad as that,” Okogu said. Because of the declining remittances from Nigerians in the diaspora, the DG Budget Office said the Nigerian economy would be badly affected, stressing that the growth of the economy largely depended on the informal sector. In her presentation on “Nigeria: Implementing an investment-friendly transformation,” the coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, highlighted the four-point agenda of the Federal Government as macro economic stability, critical structural reforms, institutional support for corruption fighting agencies and investment in priority sector. Stressing the need to budget at prudent oil price, the minister stated that this informed the government’s reduction of the 2012 oil price budget benchmark from $75 per barrel to $70 a barrel. Okonjo-Iweala, who frowned on the 74.4 per cent recurrent expenditure, said that by 2015, the recurrent expenditure of the country would have been reduced to below 70 per cent. Though the minister said it might be difficult to lay off workers, she, however, disclosed that the Federal Government intended to achieve this recurrent expenditure reduction by merging parastatal agencies, which, she said, were performing similar functions. In order to ensure macroeconomic stability and sustainable growth, the coordinating minister said plans were ongoing to increase non-oil tax revenues, reduce multiplicity of taxes and laevies and improve collection efficiency. She said henceforth, all revenue collection agencies would remit 25 per cent of all revenues collected by them as against the usual practice of remitting peanuts. She said the actions the government took to ensure 48-hour cargo clearance included streamlining the number of agencies from 14 to seven, mandating 24-hour operations for customs and other agencies, disbanding the Nigeria Customs Service Task Force, investing in port infrastructure and developing container management strategy. To be competitive, she said the Federal Government had appointed a task force in the form of a private sector monitoring group to monitor compliance at the ports as far as the customs and port reforms were concerned. |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by asha80(m): 1:51am On Dec 09, 2011 |
hmmmmm  |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Kobojunkie: 2:00am On Dec 09, 2011 |
Either that or the Diasporans have finally gotten tired of the bull-poo served them by those back in Nigeria. I remember I urged people to stop sending money to those in Nigeria if they voted back the same old crooks in power . . . and yes, I stopped sending money to those who voted back the same Administration.  I have a fatter Savings Account this year as a result.  Happy Xmas to moi!!!! |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by asha80(m): 2:04am On Dec 09, 2011 |
Kobojunkie: seriously doubt that.economic situations in europe is getting harsher.i actually know some guys in uk that are calling home for assistance |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Kobojunkie: 2:09am On Dec 09, 2011 |
asha 80:I am not in Europe, so I could not tell of those who call back home for assistance. Many of those around me here are the ones I speak of . . . done with the bull-$hit of the Nigerian mentality. This Christmas, I am so buying myself a huge gift, thanks to the money I saved by not sending more freebies to those in Nigeria who do not seem to care about the Nigerian situation enough to want to change it. |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by SEFAGO(m): 2:18am On Dec 09, 2011 |
Kobojunkie: Kobo how are you? |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Gbawe: 4:00am On Dec 09, 2011 |
Kobojunkie: Lets all clap for Kobojunkie . Judge, jury and pious executioner rolled into one !!!! 86 year old Grandma who failed to vote Buhari is now drinking garri in the village. That will teach the old fool !!!!! Next time she'll do as I say and vote for who I demand she votes for, warraheck !!! Halleluyah to Kobojunkies brand of justice !!!! But wait OO, are you telling me that crafty Nigerians, after you threathened their 'food' if they voted GEJ et al , confessed they voted against your nominated candidates? I find that one very hard to believe about a people well-versed at having their cake and eating it |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Kobojunkie: 4:04am On Dec 09, 2011 |
Again . . . . Either that or the Diasporans have finally gotten tired of the bull-poo served them by those back in Nigeria. I remember I urged people to stop sending money to those in Nigeria if they voted back the same old crooks in power . . . and yes, I stopped sending money to those who voted back the same Administration. I have a fatter Savings Account this year as a result. [size=14pt]Happy Xmas to moi!!!![/size] |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Gbawe: 4:14am On Dec 09, 2011 |
Kobojunkie: Well, can you send me a "fat" present too so I can have a happy Xmas too? You know how poor we are in the UK compared to you Yankee 'allaye's'. I doff my hat to you though. You are one mean lady. You mean your folks are probably eating 'guguru and epa' right now because they voted GEJ? Don't you know GEJ is about to take that guguru and epa away with "removal" of subsidy? Wetin dem go eat? Have a heart na . No be "Xmas"? |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by KA24DETT(m): 6:28pm On Dec 09, 2011 |
Gbawe: LOLLLLL, I dey choke on my food here , you and kobo are just different breeds lol, but wait, so kobo, if dem come comot the fuel subsidy, u still no go send money go naija?? dem fit swear for u from naija ooo. abeg, reconsider ur stance. |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Kx: 6:31pm On Dec 09, 2011 |
Times are hard even in jand. |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by htajz: 6:44pm On Dec 09, 2011 |
na today , no wonder when they come back to naija they go dey ask us how we dey take make soo much money,build big houses and drie expensive cars. to be in jand is one thing and to be there making it is another and we know many are not making it . |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Kobojunkie: 6:48pm On Dec 09, 2011 |
Bible say as a man sows, so shall he reap !!. . . . They that sow in favour of continuation of the old , shall themselves reap just that. I mean can you bold-facely tell me that you came to this planet so others can continue to eat of your hard work? If yes, may it be that way plenty for you Amen!. I didn't come here so I can spent my life sweating for others to eat while they continue to encourage situations that allow them remain dependent on my person. if your folks are dumb enough to have voted continuation of the old maybe eating guguru and epa is what they need to be doing in order to get them thinking of your future a bit more. [size=13pt]Not everyone's folks is as dumb as yours! [/size] |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by dayokanu(m): 6:56pm On Dec 09, 2011 |
They didnt count the ones I sent. me alone sent 7bn |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by bashr8: 7:19pm On Dec 09, 2011 |
Kobojunkie: broke ass anyway na ur people i pity for giving birth to you. u obviously know nothing about family. 1 Like |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Gbawe: 7:22pm On Dec 09, 2011 |
Kobojunkie: How can it be my folks eating guguru and epa when I never tried , undemocratically, to play God over the choice other adult are[b] fully entitled [/b]to make? Abeg my parents, and indeed all my[b] adult[/b] family member can make their own choices . I don't hate them for it let alone deem it fit to[b] punish[/b] them by withdrawing money I used to send them. It is not my place to punish other adult for their electoral choice. That would make me no better than the vindictive leaders we all castigate such as Uduaghan who told a district of Delta State not to expect his assistance because they failed to vote for him. |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Kobojunkie: 7:32pm On Dec 09, 2011 |
Kobojunkie: |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Ejine(m): 7:36pm On Dec 09, 2011 |
Chai!!! Times are hard.
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| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Ejine(m): 7:38pm On Dec 09, 2011 |
I hear even our ashawos in Italy have now forcefully taken over as traffic wardens. Chai. . . Times are hard.
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| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Sunofgod(m): 7:42pm On Dec 09, 2011 |
According to Okogu, the sovereign debt crisis and the declining Gross Domestic Product in Europe, low manufacturing output in France, Germany, Italy and Spain and growing US debt to the Gross Domestic Product ratio have led to situations where Nigerians abroad are now finding it difficult to make ends meet. To survive the harsh economic climate abroad, Okogu said these Nigerians now beg their relations at home to send money to them. “This is what I have seen, this is what I have heard, and it is as bad as that,” Okogu said LOL - I'm sure those In nigeria now dodge calls coming in from abroad as the calls are probably to beg for money. Some wretched nigerians abroad will still like those in nigeria to believe their 'bubbling'.  Things are only going to get worse in the west - their great depression has started. |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Ejine(m): 7:43pm On Dec 09, 2011 |
Chai. Oga mi. . . Times are hard.
|
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Lasinoh: 11:42pm On Dec 09, 2011 |
[size=20pt]Nigerians in the diaspora are now going through difficult times and have resorted to begging money from those at home.[/size] I'd rather DIE! My my God forbid this evil!!!! Abomination!!!!! |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Kobojunkie: 12:43pm On Dec 10, 2011 |
 |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Nobody: 12:54pm On Dec 10, 2011 |
NID[/b]s in need of [b]NEEDS (National Economic Empowerment and Development Strategy)?  I wonder what authoritative source was consulted before writing that article. The tribune again   |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by SEFAGO(m): 1:12pm On Dec 10, 2011 |
Kobojunkie is what I consider esu laroye. She be original winch winch |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by WilyWily4: 1:41pm On Dec 10, 2011 |
Why hard, Yorubas is there no more Bank where you are. |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by monkeyleg: 2:42pm On Dec 10, 2011 |
@Gbawe, I wouldnt take note of Kobo's comments. I cannot understand how anyone can take pleasure in what is happening, especially as there gppd people back hoem who rely on that money to get by |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by efisher(m): 3:12pm On Dec 10, 2011 |
Yahoo business is no longer profitable! |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by WilyWily4: 5:05pm On Dec 10, 2011 |
What i mean is, now that thing are becoming tough for Yorubas living abroad, if they come back in mass, is it not a problem for our banks. How can our Banks cope with massive fraud. God help us |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Gbawe: 5:07pm On Dec 10, 2011 |
efisher: On a serious note though, town dry no be joke OOO. In the UK, gas guzzling vehicles have virtually disappeared from the roads these day. If you see a Range Rover in London these days, Didier Drogba, Frank lampard or Theo Walcott are likely to be behind the wheels |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by ektbear: 5:53pm On Dec 10, 2011 |
Times is hard out here for a p1mp On a serious note, seems plausible. |
| Re: Nigerians Abroad Face Hard Times. Remittance Reduced From $12b To About $5b by Kobojunkie: 6:06pm On Dec 10, 2011 |
| Yet these are some of the very same who, when I declared this would be the action I would take, back before the election, against those who decided to irrationally re-elect the same thieves into office, were quick to praise me for such a declaration. Now I am evil in their site . . . Suddenly there is an old woman in the village ( no clue what old woman or man they be talking of but I guess I must have one because their own old woman in the village is now mine ) eating guguru and epa(as if that is now EVIL food . . .) because Kobojunkie decided to take a stance against brain-damage actions of those in her own circle . . . Yes Kobojunkie should be stoned for deciding to no more be a slave to those who continue to choose destruction, by their choices to further prolong the status quo, and hence the destruction of lives of millions . . . . . . . . imagine these nimrods. . . . ROFL People and hoard mentality ehn!!!lol |
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