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Remitances From Diasporan Nigerians Have Decreased? - Politics - Nairaland

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Remitances From Diasporan Nigerians Have Decreased? by Jallotti: 9:31am On Oct 21, 2023
https://www.dataphyte.com/latest-reports/why-nigerians-overseas-are-not-showing-love-to-their-relatives-in-nigeria/

Why Nigerians overseas are not “showing love” to their relatives in Nigeria.

Nigerians in the diaspora appear to be showing less love to their own at home. Show love is the street term for sharing money or gifts with friends or acquaintances.

Direct remittances, which means the total value of money that Nigerians overseas sent to their friends and relatives in Nigeria, have decreased.

Despite an increase in the number of Nigerians moving overseas, direct remittances to Nigeria fell again in the first half of 2023. Over the past three years, Nigeria has seen a lot of this drop.

This reduction indicates that more Nigerians living abroad are sending lesser amounts of money than they once did.

1 Like

Re: Remitances From Diasporan Nigerians Have Decreased? by ican2020: 9:32am On Oct 21, 2023
The attitude of most Nigerians at home are the reason, every election year most Nigerians voters vote stupidly and immediately after voting back to square 1 they start begging and these guys in abroad are tired of helping people who consistently refused to use their brains

8 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by Jallotti: 9:33am On Oct 21, 2023
I find that hard to believe. I send money to starving depressed NINs EVERY MONTH!

*NINs=Nigerians in Nigeria*

3 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by adesegun121(m): 9:39am On Oct 21, 2023
Ok
Re: Remitances From Diasporan Nigerians Have Decreased? by Jallotti: 9:42am On Oct 21, 2023
ican2020:
The attitude of most Nigerians at home are the reason, every election year most Nigerians voters vote stupidly and immediately after voting back to square 1 they start begging and these guys in abroad are tired of helping people who consistently refused to use their brains

In all fairness, most NINs did not vote stupidly.
They were robbed by APCheats and INEC.✅

5 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by Wujio: 9:51am On Oct 21, 2023
ican2020:
The attitude of most Nigerians at home are the reason, every election year most Nigerians voters vote stupidly and immediately after voting back to square 1 they start begging and these guys in abroad are tired of helping people who consistently refused to use their brains


Diasporans have really tried. They ralk and talk yet home-based is never cured of their ethno-centric induced sickness

1 Like

Re: Remitances From Diasporan Nigerians Have Decreased? by Amotolongbo(f): 9:58am On Oct 21, 2023
Many of you don’t know that many of the Diasporeans are also struggling to survive where they are as the economy of many nations like UK and EU are not so doing well

7 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by michlins(m): 10:20am On Oct 21, 2023
Jallotti:


In all fairness, most NINs did not vote stupidly.
They were robbed by APCheats and INEC.✅
if you ever think that APC lost this election then you must be joking. They won fair and square.

It's actually that the number of stupid people in this country are many. From the people who didn't vote(24ml out of 90ml), to the ones who voted based on ethnic, tribal and religious lines.

We are all suffering it now.

3 Likes 1 Share

Re: Remitances From Diasporan Nigerians Have Decreased? by Ikaeniyan0: 10:25am On Oct 21, 2023
Almost every country around the world is battling inflation. Cost of living is so high, even in western countries.

5 Likes 1 Share

Re: Remitances From Diasporan Nigerians Have Decreased? by 1Alex: 10:36am On Oct 21, 2023
Ikaeniyan0:
Almost every country around the world is battling inflation. Cost of living is so high, even in western countries.
this is just the reason. Times are so hard world wide.

2 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by psychalade: 10:46am On Oct 21, 2023
THIS IS THE REASON BELOW😬

The total amount of debt owed by the US government is skyrocketing.

The Treasury’s FiscalData platform shows $106.12 billion has been piled onto America’s debt in the seven-day stretch ending on October 18th.

After crossing the $33 trillion mark on September 15th, total outstanding US debt now stands at $33.62 trillion – an increase of about $17.71 billion per day.

In a new interview with Bloomberg TV, Rockefeller Capital CEO Greg Fleming says he’s concerned about the rising debt burden and the impact that America’s interest payments will have on growth.

“On the current trajectory, interest payments on the federal budget will exceed military expenditures by 2027. So higher for longer has a big impact on the fiscal side of the equation, which is relevant to all investors because the US debt situation is definitely a concern…

If we have a recession, you could see a double-digit deficit as a percentage of the federal budget.



Jallotti:
https://www.dataphyte.com/latest-reports/why-nigerians-overseas-are-not-showing-love-to-their-relatives-in-nigeria/

Why Nigerians overseas are not “showing love” to their relatives in Nigeria.

1 Like 1 Share

Re: Remitances From Diasporan Nigerians Have Decreased? by horsepower102: 10:54am On Oct 21, 2023
If you want vote in a banana then run to diaspora to come save you.

After this last election, so many well meaning Nigerians in the diaspora simply gave up and held their money back.
Re: Remitances From Diasporan Nigerians Have Decreased? by akingangan: 11:48am On Oct 21, 2023
Nigerians abroad a working their as* off and paying bills.

Nigerians don't realise how easy Nigeria is until they travel abroad.

3 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by Raskimonojendor: 11:52am On Oct 21, 2023
There is inflation everywhere. Prices of basic necessities have gone up all over the world. Cost of borrowing is super high. Diaspora Nigerians don't have much to spare like they used to.

4 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by abhosts(m): 12:01pm On Oct 21, 2023
Investments to Nigeria from diaspora is at an all time low. Imagine sending money to buy a house last year when dollar was ₦590. Now, that same dollar has doubled in value and is almost ₦1200. So how do you make a profit from a dollar perspective?

Many Nigerians have stopped investing back in Nigeria and that would greatly affect remittances.

3 Likes 2 Shares

Re: Remitances From Diasporan Nigerians Have Decreased? by zuchyblink(m): 12:11pm On Oct 21, 2023
I know why; those who used to send:
100 dollars=#50,000 now send
50 dollars =#50,000

1 Like

Re: Remitances From Diasporan Nigerians Have Decreased? by Goodvibes007: 12:16pm On Oct 21, 2023
zuchyblink:
I know why; those who used to send:
100 dollars=#50,000 now send
50 dollars =#50,000
I have increased my own monthly remittance to catch up with inflation in Nigeria.
Re: Remitances From Diasporan Nigerians Have Decreased? by zuchyblink(m): 12:30pm On Oct 21, 2023
A decade ago, Nigerians living abroad could effortlessly remit $200 when the exchange rate was below 30,000 Naira. However, nowadays, they find it challenging to send $200 due to the fact that the exchange rate has surpassed 200,000 Naira.
Re: Remitances From Diasporan Nigerians Have Decreased? by LOVEALAIGBO: 12:39pm On Oct 21, 2023
Jallotti:


In all fairness, most NINs did not vote stupidly.
They were robbed by APCheats and INEC.✅

Precisely! I think the issue really is how docile they are and how they allow thieving politicians rig the electoral process with impunity and install all manner of dubious characters without doing anything!
Re: Remitances From Diasporan Nigerians Have Decreased? by Kenneth4u205(m): 12:44pm On Oct 21, 2023
That is a big lie . We use other methods like crypto(binance usdt) to send money home to Nigeria. It's faster and the exchange rate is higher than bank rate .

Remittance has not reduced. We only found a better way that can't be traced by CBN

3 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by Jallotti: 1:43pm On Oct 21, 2023
LOVEALAIGBO:


Precisely! I think the issue really is how docile they are and how they allow thieving politicians rig the electoral process with impunity and install all manner of dubious characters without doing anything!

Extremely docile.
The fact that there is no unity is a major problem.

1 Like

Re: Remitances From Diasporan Nigerians Have Decreased? by Jallotti: 1:48pm On Oct 21, 2023
psychalade:
THIS IS THE REASON BELOW😬

The total amount of debt owed by the US government is skyrocketing.

The Treasury’s FiscalData platform shows $106.12 billion has been piled onto America’s debt in the seven-day stretch ending on October 18th.

After crossing the $33 trillion mark on September 15th, total outstanding US debt now stands at $33.62 trillion – an increase of about $17.71 billion per day.

In a new interview with Bloomberg TV, Rockefeller Capital CEO Greg Fleming says he’s concerned about the rising debt burden and the impact that America’s interest payments will have on growth.

“On the current trajectory, interest payments on the federal budget will exceed military expenditures by 2027. So higher for longer has a big impact on the fiscal side of the equation, which is relevant to all investors because the US debt situation is definitely a concern…

If we have a recession, you could see a double-digit deficit as a percentage of the federal budget.





A recession?
Re: Remitances From Diasporan Nigerians Have Decreased? by Skillsnigeria: 3:51pm On Oct 21, 2023
Hmmm
Re: Remitances From Diasporan Nigerians Have Decreased? by aderadio1: 4:16pm On Oct 21, 2023
The number did not decrease rather people don't use money gram or Western Union anymore. The money is being sent cash at hand.

You give me pounds I sent to your account in Nigeria from my account in Nigeria.

1 Like

Re: Remitances From Diasporan Nigerians Have Decreased? by 2BabaNairaland: 4:20pm On Oct 21, 2023
I am not joking because I know for sure that APC lost the 2023 election but Mumu Yakubu rigged Tinubu in.





michlins:
if you ever think that APC lost this election then you must be joking. They won fair and square.

It's actually that the number of stupid people in this country are many. From the people who didn't vote(24ml out of 90ml), to the ones who voted based on ethnic, tribal and religious lines.

We are all suffering it now.
Re: Remitances From Diasporan Nigerians Have Decreased? by SpatialKing(m): 4:21pm On Oct 21, 2023
I stay in the US why should I invest in my country lead by a certificate forger how sure am I the investment documents won't be forged...

1 Like

Re: Remitances From Diasporan Nigerians Have Decreased? by SpatialKing(m): 4:24pm On Oct 21, 2023
michlins:
if you ever think that APC lost this election then you must be joking. They won fair and square.

It's actually that the number of stupid people in this country are many. From the people who didn't vote(24ml out of 90ml), to the ones who voted based on ethnic, tribal and religious lines.

We are all suffering it now.


Yeah just like APC that had to use Muslim - Muslim ticket as a strategy to win...

They deployed religious strategy
Re: Remitances From Diasporan Nigerians Have Decreased? by michlins(m): 4:30pm On Oct 21, 2023
2BabaNairaland:
I am not joking because I know for sure that APC lost the 2023 election but Mumu Yakubu rigged Tinubu in.





if it makes you happy, believe it

2 Likes

Re: Remitances From Diasporan Nigerians Have Decreased? by 2BabaNairaland: 9:30pm On Oct 21, 2023
I believe it because it is the truth and no one can't hide it.



michlins:
if it makes you happy, believe it
Re: Remitances From Diasporan Nigerians Have Decreased? by Konquest: 7:34pm On Feb 20
Re: Remitances From Diasporan Nigerians Have Decreased? by Konquest: 7:36pm On Feb 20
psychalade:
THIS IS THE REASON BELOW😬

The total amount of debt owed by the US government is skyrocketing.

The Treasury’s FiscalData platform shows $106.12 billion has been piled onto America’s debt in the seven-day stretch ending on October 18th.

After crossing the $33 trillion mark on September 15th, total outstanding US debt now stands at $33.62 trillion – an increase of about $17.71 billion per day.

In a new interview with Bloomberg TV, Rockefeller Capital CEO Greg Fleming says he’s concerned about the rising debt burden and the impact that America’s interest payments will have on growth.

“On the current trajectory, interest payments on the federal budget will exceed military expenditures by 2027. So higher for longer has a big impact on the fiscal side of the equation, which is relevant to all investors because the US debt situation is definitely a concern…

If we have a recession, you could see a double-digit deficit as a percentage of the federal budget.

Bump.
Re: Remitances From Diasporan Nigerians Have Decreased? by Konquest: 7:39pm On Feb 20
aderadio1:
The number did not decrease rather people don't use money gram or Western Union anymore. The money is being sent cash at hand.

You give me pounds I sent to your account in Nigeria from my account in Nigeria.
True that.

Only less than 10 percent (less than 2 billion USD) of all remittances get to Nigeria in hard currencies out of the 20 billion USD that is sent annually. The rest send remittances via transfer apps that end up paying beneficiaries in Naira.

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