Re: Contribution of the SE (and Igbo) to Nigeria’s Economy

This argument keeps rearing its ugly head, pushed on by SW irredentists. But the first thing we need to remember is that the SE gets the least from the national coffers, so it is expected to contribute the least.

However, this is not the case in reality, as I equate the SE with Igbo, in some instances.
Here is how Igbos, even though they get less from the national purse, actually contribute most.

1. There are give and take 17 million Nigerians abroad; 60% of those are Igbos. We know that Nigerians abroad remit billions of dollars to Nigeria annually. Therefore, 60% of the billions of remittances are from Igbos who are mainly of SE origin. The Nigerian Feds have confirmed that the remittances contribute significantly to the economy.

2. Nollywood brings in billions of Naira to Nigeria. We all know that the Nollywood in question is Igbo-dominated.

3. Igbos constitute the bulk of foreign business people who import things into the Nigerian market. We know that importation goes along with payment of import duties, taxes and other levies.

4. The SE, by taking less out of the federal purse, contribute most in keeping some savings for Nigeria. Unfortunately the savings are swallowed by the crooks from all parts of Nigeria.

5. Three SE cities are among the 6-most industrialized cities/towns in Nigeria. Lagos, followed by Port Harcourt (Rivers) Agbara (Ogun), Aba (Abia), Onitsha (Anambra) and Nnewi (Anambra) are undoubtedly the most industrialized places in Nigeria. This means employment and tax payments to the national purse coming from these industries.

6. SEners/Igbos are the least employed by the federal government. This means they not only take less out of the system by way of salaries and benefits, but also by way of having less opportunity of stealing from the government, compared with other zones.

7. Igbos, by migrating out of Nigeria in more numbers than other groups, contribute less in putting undue strain on the overstretched infrastructure of Nigeria. Most of the strain received by the infrastructure in Nigeria comes from the North. If all Nigerians were to stay back home, we all know how crazy it would get.

8. Most of the sports people in Nigeria are Igbos. That is a contribution that is probably not so easy to quantify monetarily.

9. Moreover, 70% of the investments in Abuja are Igbo-owned and about 30-40% of those in Lagos are also Igbos owned. These investors pay taxes to the governments.

Contribution of the SE (and Igbo) to Nigeria’s Economy

This argument keeps rearing its ugly head, pushed on by SW irredentists. But the first thing we need to remember is that the SE gets less from the national coffers, so it is expected to contribute less.

However, this is not the case in reality, as I equate the SE with Igbo, in some instances.
Here is how Igbos, even though they get less from the national purse, actually contribute most.

1. There are 17 million Nigerians abroad; 60% of those are Igbos. We know that Nigerians abroad remit billions of dollars to Nigeria annually. Therefore, 60% of the billions of remittances are from Igbos who are mainly of SE origin. The Nigerian Feds have confirmed that the remittances contribute significantly to the economy.

2. Nollywood brings in billions of Naira to Nigeria. We all know that the Nollywood in question is Igbo-dominated.

3. Igbos constitute the bulk of foreign business people who import things into the Nigerian market. We know that importation goes along with payment of import duties, taxes and other levies.

4. The SE, by taking less out of the federal purse, contribute most in keeping some savings for Nigeria. Unfortunately the savings are swallowed by the crooks from all parts of Nigeria.

5. Three SE cities are among the 6-most industrialized cities/towns in Nigeria. Lagos, followed by Port Harcourt (Rivers) Agbara (Ogun), Aba (Abia), Onitsha (Anambra) and Nnewi (Anambra) are undoubtedly the most industrialized places in Nigeria. This means employment and tax payments to the national purse coming from these industries.

6. SEners/Igbos are the least employed by the federal government. This means they not only take less out of the system by way of salaries and benefits, but also by way of having the opportunity of stealing from the government. Stealing from the govt. is what the SW and North know how best to do.

7. Igbos, by migrating out of Nigeria in more numbers than other groups, contribute less in putting undue strain on the overstretched infrastructure of Nigeria. Most of the strain received by the infrastructure in Nigeria comes from the North.

8. Most of the sports people in Nigeria are Igbos. That is a contribution that is probably not so easy to quantify monetarily.


=========================================================================================
No info on who sends what on this post, just showing the size of remmitances for last year


Remittances to Nigeria to hit $21bn by year end

on October 09, 2014 / in Business 10:51 pm / Comments

By Omoh Gabriel
The World Bank Group has projected that Nigeria will in 2014 receive an inflow of $21 billion as remittances from Nigerians living and working abroad.

This figure will place Nigeria as the top receipt of foreign remittance in Africa. Nigeria will be followed by Egypt with a projected remittance of $18 billion.

This fact is contained in a release by the World Bank Group on” Migration and Remittances: Recent Developments and Outlook; Special Topic: Forced Migration

According to the report “Remittances to developing countries are projected to grow by 5.0 per cent to reach $435 billion in 2014 accelerating from the 3.4 per cent expansion of 2013, and rise further by 4.4 per cent to $454 billion in 2015.

In 2013, remittances were more than three times larger than ODA and, excluding China, significantly exceeded foreign direct investment flows to developing countries. Growth of remittances in 2014 is being led by three regions: East Asia and the Pacific, South Asia, and Latin America and the Caribbean.

“Officially recorded remittance flows to developing countries are projected to reach $435 billion in 2014, 5.0 per cent higher than last year (Figure 1.1 and Table 1.1). The growth in remittances is expected to moderate to 4.4 percent in 2015, raising flows to US$454 billion.

This outlook is based largely on lower projected GDP growth rates in key remittance-sending countries. Global remittance flows, including flows to higher-income countries, are expected to follow a similar pattern, rising from US$582 billion in 2014 to US$608 billion in 2015.

“Remittances are an essential source of external funds for developing countries. These flows were three times larger than official development assistance in 2013, and are steadier than both private debt and portfolio equity.

Remittance flows are significantly larger than total foreign direct investment to developing countries, excluding China. They are also a more stable component of receipts in the current account, reliably bringing in foreign currency that helps sustain the balance of payments and dampen gyrations

“The global average cost of sending remittances continued its downward trend in the third quarter of 2014, falling to 7.9 percent of the value sent, compared to 8.9 percent a year earlier.

Competition and the expansion of mobile-phone and internet-based technologies hold much potential to continue driving down fees. Risk-based approaches to the application of anti-money laundering regulations to remittance operators and international banks hosting their bank accounts will be important to ensuring that compliance does not result in undue costs, which could slow the fall in remittance costs and leave substantial flows underground.

The report said “With over 14 million people born in India living abroad in 2013 (estimated to be the largest emigrant stock in the world), India is projected to remain the largest recipient of officially recorded remittance inflows, which may reach $71 billion in 2014. Other countries expected to receive large remittances in 2014 include China $64 billion, the Philippines $28 billion, Mexico $24 billion, Nigeria $21 billion, and Egypt $18 billion”.

The report said that despite the huge sums flowing into large countries, in many instances they are relatively small share of GDP. Giving instances it said remittance flows to India amounted to only 3.7 per cent of GDP in 2013. By contrast, many smaller countries are far more dependent on remittance inflows. For example, remittances as share of GDP amounted to 42 per cent in Tajikistan, 32 per cent in the Kyrgyz Republic, and 29 per cent in Nepal.

It said that the main drivers of remittances are migrant stocks and economic conditions in remittance-sending countries. With the exception of rapid deportations, the stock of migrants is comparatively stable. Still, more needs to be done to reduce the costs of migration, including flows from major oil producing countries track closely with oil prices, as do other factors affecting migrant employment opportunities. For example, oil prices are an important factor in remittance flows from Russia. Climbing migrant employment in the US is boosting remittances to Latin

Exchange rates and the cost of sending remittances are also important determinants. Appreciation of the remittance source country’s currency against that of the recipient country boosts flows (note that changes in the exchange rate between the currency of the remittance source country and the US dollar also affect remittance flows when expressed in US dollars). Similarly, the falling costs and increasing convenience of sending money (discussed in greater detail below) are helping lift remittance flows, especially through formal remittance channels. Conversely, compliance with international anti-money laundering and counter financing of terrorism regulations may be a significant cost factor putting upward pressure on prices, which may in turn leave substantial flows in underground channels (see Box 2.2 further below). In addition, exchange controls in countries such as Argentina and Venezuela are also causing flows to shift underground.

An important feature of remittance flows is how they respond to natural disasters. There is substantial evidence that the humanitarian impulse is a powerful motivator of remittances. For example, the devastating earthquake that struck Haiti in 2010 spurred remittance flows to that country, with further encouragement from money transfer companies committing to transfer remittances free of charge. A similar pattern was observed in Pakistan after the widespread floods in August 2010; remittances jumped 19 percent during the remainder of 2010 compared with the previous year, and 27 percent in 2011. While flooding in Pakistan this year was more limited than in 2010, it still caused massive damage and again may be motivating a rise in remittances; they are projected to rise by 16.6 percent in 2014. Recovery from the super typhoon that struck the Philippines in 2013 brought an 8.5 percent increase in remittances that year, again helped by money transfer companies agreeing to zero fees for making remittances. These observations suggest that remittances are not only a lifeline sustaining consumption in some of the poorest parts of the world, but they also tend to serve as insurance against key risks confronting the poor and help mitigate vulnerability.

With the outlook for GDP growth in major remittance source countries somewhat weaker than previously projected, growth in global remittance flows is also expected to moderate, especially to developing countries in Europe and Central Asia.

The cost average total cost of sending about US$200 fell from 8.9 percent in the third quarter of 2013 to 7.9 percent in the third quarter of this year (Figure 2.1). The average weighted by the size of bilateral remittance flows also fell, from 6.6 percent in the third quarter of 2013 to 5.7 percent in the same period this year. The slight narrowing of the spread between the global average total cost and the global weighted average suggests that even smaller remittance markets are becoming increasingly contested, as mobile operators enter the market and new online services are being offered.

While cash products remain the most widely available, more account-based services are entering the market; cash-to-account remains the lowest-cost method for making remittances among account types. Online services are also expanding, now comprising 23 percent of the sample surveyed by the Remittance Prices Worldwide (RPW) database of the World Bank Payment Systems Development Group. These services offer various ways of paying for a transaction (from bank accounts, bank wires, credit cards, and debit cards), and receiving funds (in beneficiary bank accounts, or in cash through a local agent). The cash-to-account channel averaged 5.4 percent in the third quarter of 2014.
- See more at: http://www.vanguardngr.com/2014/10/remittances-nigeria-hit-21bn-year-end/#sthash.Y6z6TXRV.dpuf

Lalasticlala, please do the needful, as per front page. This is an important rebuttal to another thread. Thanks

Francis5:
Re: Contribution of the SE (and Igbo) to Nigeria’s Economy

This argument keeps rearing its ugly head, pushed on by SW irredentists. But the first thing we need to remember is that the SE gets less from the national coffers, so it is expected to contribute less.

However, this is not the case in reality, as I equate the SE with Igbo, in some instances.
Here is how Igbos, even though they get less from the national purse, actually contribute most.

1. There are 17 million Nigerians abroad; 60% of those are Igbos. We know that Nigerians abroad remit billions of dollars to Nigeria annually. Therefore, 60% of the billions of remittances are from Igbos who are mainly of SE origin. The Nigerian Feds have confirmed that the remittances contribute significantly to the economy.

2. Nollywood brings in billions of Naira to Nigeria. We all know that the Nollywood in question is Igbo-dominated.

3. Igbos constitute the bulk of foreign business people who import things into the Nigerian market. We know that importation goes along with payment of import duties, taxes and other levies.

4. The SE, by taking less out of the federal purse, contribute most in keeping some savings for Nigeria. Unfortunately the savings are swallowed by the crooks from all parts of Nigeria.

5. Three SE cities are among the 6-most industrialized cities/towns in Nigeria. Lagos, followed by Port Harcourt (Rivers) Agbara (Ogun), Aba (Abia), Onitsha (Anambra) and Nnewi (Anambra) are undoubtedly the most industrialized places in Nigeria. This means employment and tax payments to the national purse coming from these industries.

6. SEners/Igbos are the least employed by the federal government. This means they not only take less out of the system by way of salaries and benefits, but also by way of having the opportunity of stealing from the government. Stealing from the govt. is what the SW and North know how best to do.

7. Igbos, by migrating out of Nigeria in more numbers than other groups, contribute less in putting undue strain on the overstretched infrastructure of Nigeria. Most of the strain received by the infrastructure in Nigeria comes from the North.

8. Most of the sports people in Nigeria are Igbos. That is a contribution that is probably not so easy to quantify monetarily.

you get less because you produce less and probably because you are financing a debt,, and not the other way round
1) please give link where the 60 per cent are ibos
2 and 3 are true even though your share in 2 is reducing judging from the movies that rake in awards for the past couple of years
4) is a general problem, we need prayers to stop corruption
5) i cant say about industrilization, but i studied in anambra and i know a lot of potentials lies in onitsha if properly utilised, i get my wares from there when i was there
6) i need fact onthat as well.. how will you say ibos are the least employed
7) no comment here
and there is a diffrence between "what does the SE as a region contribte and what does the ibo tribe contribute" which one are you talking about here
peace bro

shogz89:
you get less because you produce less and probably because you are financing a debt,, and not the other way round

No one is producing anything that is shared among the zones. We basically are sharing oil proceeds which (oil) is not produced by any group but is only a natural resource found in some parts of Nigeria

shogz89:
you get less because you produce less and probably because you are financing a debt,, and not the other way round
1) please give link where the 60 per cent are ibos

You need a link? You need to live abroad to see the number of Igbos abroad. For any 10 Nigerians you pass on any foreign street, 5 to 6 are likely to be Igbos.

glorifying those retards with a response is more than handing them the world cup

Moreover, 70% of the investments in Abuja are Igbo-owned and about 30-40% of those in Lagos are also Igbos owned. These investors pay taxes to the governments

Why should we care? How does this move Nigeria forward? How has owning Lagos and Abuja moved Onitsha forward?

Has it remove erosion from the SE

.

shogz89:
you get less because you produce less and probably because you are financing a debt,, and not the other way round
1) please give link where the 60 per cent are ibos
2 and 3 are true even though your share in 2 is reducing judging from the movies that rake in awards for the past couple of years
4) is a general problem, we need prayers to stop corruption
5) i cant say about industrilization, but i studied in anambra and i know a lot of potentials lies in onitsha if properly utilised, i get my wares from there when i was there
6) i need fact onthat as well.. how will you say ibos are the least employed
7) no comment here

Something on Igbo migration pattern, at least on the quality side

https://books.google.com/books?id=xM-d5hnIvosC&pg=PT301&lpg=PT301&dq=Igbos+living+abroad&source=bl&ots=yalq7sNPFb&sig=ye0XiHef7LeA9pncgbYGY9mP-w0&hl=en&sa=X&ved=0CDMQ6AEwBGoVChMIgMeVlKafxwIVgu0eCh02Xwy-#v=onepage&q=Igbos%20living%20abroad&f=false

1- Abia State produces Palm Oil, Cassava, Rubber etc in commercial quantities that is why the FG established a university of Agriculture in Umudike, A National Root crop research institute at umudike also and A National Ceral research institution at Amakama and the Umunna South Gigantic Farm at Umuahia North LGA.

2- Footwears, Leather, Clothes, Belt etc are PRODUCED in commercial quantity in Aba.

3- Ebonyi state is praised for its Rice exploits(abakiliki rice) which have attracted foreign investors in the Rice Sector.

4- Anambra State is the second most industralized state after Lagos.

5-IGBOS Dominate and Control TRADE and COMMERCE in this country..
6-IGBOS have the largest Black car manufactury industry,
7- Orange and Emzor pharmaceutical(the biggest in Nigeria) are owned by IGBOS,
8- Zinox Computer and Laptop manufacturing company is owned by an IGBO Engineer,
9- Transportation and Hotelling industry are controlled by IGBOS,

10- Nollywood, largest film industry in Africa is founded and controlled by IGBOS,
11-The largest market in Africa which is Onitcha main market are controlled by IGBOS,
12- Aba Textile Industry is the ONLY functioning texile industry in Nigeria
Etc
13- IGBOS are the highest importers in Nigeria and Apapa seaport is benefitting from it.

AND MANY MORE

Francis5:


You need a link? You need to live abroad to see the number of Igbos abroad. For any 10 Nigerians you pass on any foreign street, 5 to 6 are likely to be Igbos.

Op, can you say that out of these 6, 2 are gainfully and legally employed?

You need a link? You need to live abroad to see the number of Igbos abroad. For any 10 Nigerians you pass on any foreign street, 5 to 6 are likely to be Igbos.[/quote]

Op, can you say that out of these 6, 2 are gainfully and legally employed?

Francis5:


Something on Igbo migration pattern, at least on the quality side

https://books.google.com/books?id=xM-d5hnIvosC&pg=PT301&lpg=PT301&dq=Igbos+living+abroad&source=bl&ots=yalq7sNPFb&sig=ye0XiHef7LeA9pncgbYGY9mP-w0&hl=en&sa=X&ved=0CDMQ6AEwBGoVChMIgMeVlKafxwIVgu0eCh02Xwy-#v=onepage&q=Igbos%20living%20abroad&f=false

bro i love the way we are arguin objectively, am not disputing the fact that ibos migrate and they are the highest, the percentage is what i doubt, you are making it look as if it is only two tribes that we have in nigeria,, are you telling me that ibos alone account for 60 percent of total migration in a country that has more that 200 ethnic groups... a 35 percent or a 40 percent would have been a realistic figure.. you cant tell me other tribes in nigeria only account for just 40 percent. i hope you understand the angle am coming from. i pray this thread will be more objective than the other one.

Phargbemmy:


You need a link? You need to live abroad to see the number of Igbos abroad. For any 10 Nigerians you pass on any foreign street, 5 to 6 are likely to be Igbos.

Op, can you say that out of these 6, 2 are gainfully and legally employed?

What do you define gainful employment as? Of the 170 million Nigerians at home how many are gainfully employed

BTW, most Nigerians in the USA are gainfully employed depending on the level of their education.

NIGERIA

Ventures Africa lists the top 4 reasons why the Nigerian diaspora will not return home:
http://www.ventures-africa.com/2012/04/why-the-nigerian-diaspora-wont-return-home/
1. Political Climate
2. Lack of Infrastructure
3. Out of touch with Nigeria
4. The comfort of being overseas

CNN Market Place Africa reported that: For Nigeria, 2008 was a turnaround year as a series of government reforms boosted the country’s economy that has continued to grow since then: in the past three years, the oil-rich West African nation has seen growth of more than seven percent while much of the western world remains mired in financial turmoil.
Source: The Edition

The 1993 UNDP Human Development Report indicated that more than 21,000 Nigerian doctors were practicing in the United States alone while Nigeria suffers from a shortage of doctors. If we were to add the number of Nigerian doctors in Saudi Arabia and the Gulf states, Europe, Australia and those in other African countries, the figure would be close to 30,000.

Nigeria is second among the 10 Countries Facing the Biggest Brain Drain Nigeria is another African nation that has suffered due to a massive brain drain. With much of Nigeria still essentially a developing nation with unreliable power and few resources, higher level science, engineering and medical professionals often find little to motivate them into staying, especially with job offers from the U.S. and European nations exerting a powerful pull. Since Nigeria’s brutal civil war in late 60s, the country has bounced between military governments and dictatorships, pushing out between 11 and 17 million people. Today, over 2 million Nigerians live in the U.S. alone, and of these about 20,000 are doctors and over 10,000 are academics. That’s a heavy loss for a nation that so desperately needs qualified professionals to rebuild and improve its own resources.

http://homecomingrevolution.com/blog/2013/10/10/african-diaspora-statistic/

When Biafra National Team went to South Africa and came back with AfCon trophy don't you know how many Nigerians were cured of HBP and LBP.

Chioma Ajunwa, Enyimba, Uche Emedolu and Obinna Metu them giving you ingrates the cause to be happy and your here insulting your fathers.

Igbos own 70% of Abuja...... El Rufai

https://www.nairaland.com/54751/el-rufai-igbos-own-73-abuja

shogz89:
bro i love the way we are arguin objectively, am not disputing the fact that ibos migrate and they are the highest, the percentage is what i doubt, you are making it look as if it is only two tribes that we have in nigeria,, are you telling me that ibos alone account for 60 percent of total migration in a country that has more that 200 ethnic groups... a 35 percent or a 40 percent would have been a realistic figure.. you cant tell me other tribes in nigeria only account for just 40 percent. i hope you understand the angle am coming from. i pray this thread will be more objective than the other one.

My claim of percentage is based just in part, on my experience, having lived in Europe, the USA and Canada. You see mainly (but not exclusively) Nigerians from three tribes outside of Nigeria: Igbo, Yoruba and Bini (I admit that Bini may include non-Bini Edos) I have also travelled to Asia and South Africa. Everywhere it is Igbo, Igbo and more Igbo. The only country where you have a bit more Yorubas than Igbos is the UK. Other articles also suggest similar migration trends among Nigerians

That's fact bro..

Wonder what the initial op who started this thread wanted to achieve........instead to work on our diversity as a nation, some people would want us to believe that they are superior by force.........being divisive doesn't help our cause as a Nation

Among Nigerians in the USA, Igbos are the predominant group

https://books.google.com/books?id=ZPJnBwAAQBAJ&pg=PA647&lpg=PA647&dq=dollar+remittance+to+nigeria+and+Igbos&source=bl&ots=sniLNTDzlS&sig=3WtFrO7-gFelFj1Iv0-jJ1C6sa8&hl=en&sa=X&ved=0CFcQ6AEwB2oVChMIstvF2rGfxwIVjFYeCh2qHgdD#v=onepage&q=dollar%20remittance%20to%20nigeria%20and%20Igbos&f=false

Francis5:


You need a link? You need to live abroad to see the number of Igbos abroad. For any 10 Nigerians you pass on any foreign street, 5 to 6 are likely to be Igbos.

^^^Except maybe Peckham!

IGBOSON1:


^^^Except maybe Peckham!

I already acknowledged that. Read up

Here we go again,ibos puling stastic from their anus to suit their ego.all ibos on this forum should agree they contribute less to the national coffers and stop calling people parasite and leeches.where as, they are the real parasite of nigeria.

omoelesa:
Here we go again,ibos puling stastic from their anus to suit their ego.all ibos on this forum should agree they contribute less to the national coffers and stop calling people parasite and leeches.where as, they are the real parasite of nigeria.

You are dreaming right? Now tell me what Yoruba contribute to Nigeria?

ezeagu:
Why should we care? How does this move Nigeria forward? How has owning Lagos and Abuja moved Onitsha forward?

Onitsha is the biggest market in the Milky Way ,that is where the US Army buys drones

open any Eboe brain and this is all you will find Ibo Ojukwu Akpu Biafra Ibo Ojukwu Akpu Biafra

I tell people that SE economy including Anioma is beyond fail. Even if every other thing fails, the billions of dollars remitted back by those in Diaspora is enough to keep the economy going. At least one person in every igbo family is in overseas. In most family all male children are in overseas. Likewise with Israeli economy is based largely on monies remitted by jews in other countries.

what do South West contribute to the national coffers rather than waiting for the government for everything