Paradox Of The Japa Syndrome On The Nigerian Economy - Travel (3) - Nairaland
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| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by erico2k2(m): 7:14pm On Apr 12, 2025 |
internationalman:Tetrad.Lemfi, there are thousands |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by internationalman(m): 7:22pm On Apr 12, 2025 |
erico2k2:Noted. Thanks |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by armadeo(m): 7:26pm On Apr 12, 2025 |
erico2k2:Again I disagree. As long as money is being spent and earned everybody benefits. The money arrives. You cash out you buy bread. Seller makes money baker makes money. Baker buys meat , butcher makes money. Butcher pays transport , transporter makes money.. you see how it goes. These funds injected into the economy have a widespread reach beyond your immediate family. 2.4 billion dollars is a lot of money and it affects the country that's why the government is aware of it. |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by erico2k2(m): 7:32pm On Apr 12, 2025 |
armadeo:YOu obviously did not do ECONOMICS IN secondary SCHOOL,HOWVER THATS STILL NOT AN XCUSE, you OBVIOUSLY DID NOT GRASP WHAT i TRY TO XPLAIN IN THE DIFFERENCE BTW Micro and Macro Economy. ALl the transactions you just mentioned are all Microeconomy ,Buying and sending cars to your Dad in Nigeria falls under remittance if the sender lives and work abroad and its Macroeconomy as you pay import duty to FG and pay taxes to FG fru FIRS anyways Im done here, whatever you think Bro Enjoy,I dey go O2 Arena. |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by EDGEof2MORO: 7:35pm On Apr 12, 2025 |
ednut1:because the population of Nigeria is not up to 220m as everyone likes to claim. we are far less than that. |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by DesChyko: 9:40pm On Apr 12, 2025 |
erico2k2:Preventing wider scale unrest. |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by Lawalemi(m): 10:03pm On Apr 12, 2025 |
Racoon:They love short term gain due to poor planning for the country |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by erico2k2(m): 11:45pm On Apr 12, 2025 |
DesChyko:So does who do not have people abroad contribute to unrest yeah? Some of the reasoning of 9ja na wahh |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by erico2k2(m): 11:46pm On Apr 12, 2025 |
Observer210:Stealing lol, most of the said people got educated abroad, myself inclusive. |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by erico2k2(m): 11:47pm On Apr 12, 2025 |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by Cromagnon: 11:53pm On Apr 12, 2025 |
Racoon:propaganda The only care of govt is power |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by Cromagnon: 11:53pm On Apr 12, 2025 |
othermen:if they left they weren't really our best |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by Cromagnon: 11:54pm On Apr 12, 2025 |
obinna58:dangote and òbí Cubana still here o |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by Cromagnon: 11:54pm On Apr 12, 2025 |
ednut1:but who will train them |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by Konquest: 2:12am On Apr 13, 2025 |
[quote author=Raco.on post=134421734]In recent times, diaspora remittances to Nigeria have been an important contribution to our foreign exchange earnings. It is no surprise that the Central Bank of Nigeria (CBN) in 2024 said diaspora remittances to Nigeria reached $4.22 billion from January to October, a 61.1 percent increase from the same period in 2023. This increase was attributed to improved efficiency in the remittance process, the policies of President Bola Tinubu, and increased confidence in Nigeria’s financial system. It is therefore logical to conclude that the more Nigerians go abroad (Japa), the more remittances the Nigerian economy will get, all things being equal. Ironically, in the last few years, the Nigerian government has been worried about the mass exodus of skilled and unskilled Nigerians leaving the country for greener pastures elsewhere. Amusingly, the same government also covertly and overtly depends on diaspora remittances and is often worried whenever there is a drop. Remittances from the Nigerian diaspora are a significant source of foreign exchange for the country and also an important part of Nigeria’s economic recovery. They are a vital source of income for families and a steady inflow into the economy. They also play a significant role in alleviating poverty and improving nutrition and are linked to better outcomes such as higher birth weights and increased school enrolment. Despite interventions, the rate has not held up to expectations, and according to the CBN, in 2024, Nigeria received an estimated $23.4 billion in remittances from its diaspora community, making it the largest recipient of remittances in Africa and one of the top five globally. The CBN is most likely to continue its interventions after the World Bank predicted that Nigeria will see increased remittances in the years ahead, due to higher food prices. This can only be true if the planned repatriation of Nigerians by President Donald Trump’s administration and some European governments is not followed through. As diaspora remittances are from both the skilled and unskilled Nigerians who went abroad either legally or illegally. We are not against the government exploiting the gains from its diaspora population. If anything, we think remittances do help the economy; however, they are not a sustainable strategy for long-term economic growth. Nigeria has an economy that is dominated by consumption rather than production. So, once the remittances are received, they will merely be used to service an import-oriented economy. In other words, the money will simply go back to where it came from. Nigeria therefore needs to increase production for a sustainable growth in the economy, knowing well that production requires the best in human resources. A situation where Nigerian leaders take advantage of a condition that is costing its economy more in terms of human capital does not augur well for our future. The energy the government is putting in to attract more remittances could also be used to put the country in a better state that will help reduce the number of young Nigerians the country is losing on a daily basis. In 2024, the UK granted over 430,000 visas to Nigerian nationals, according to the British High Commissioner. This included visas for study and relocation, a December 2024 report showed. In the year ending June 2024, the UK issued 432,225 student visas, noted GOV.UK, a 13 percent decrease from the previous year, but 61 percent higher than in 2019. In the first half of 2024, the UK processed over 225,000 visas for Nigerian nationals. The figure above is for the skilled labour, while for the unskilled who use intermediaries, it is not known. For the UK, Nigerian migrants also showed by far the biggest growth among the top five nationalities granted skilled work visas. For every talent that leaves Nigeria, a local business is suffering because it cannot find a suitable replacement on such short notice. https://businessday.ng/editorial/article/paradox-of-the-japa-syndrome/#google_vignette[/quote] |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by Goodadvice01(m): 10:37am On Apr 13, 2025 |
columbus007:I won't even think twice if I see the opportunity.. God knows |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by gforce5: 1:02pm On Apr 14, 2025 |
You are wasting your time arguing with these people that lack exposure. It's even less than 5 million Nigerians that have migrated out of Nigeria. The total number of Nigerians in Europe including the UK is less than 1 million while the total no of Nigerians in North America is also just under a million. That means that less than 1% of Nigeria's population have migrated out of the country yet Nigerians keep focusing on that small minority instead of sorting out the majority. How many people in the North (including the middle belt) reside outside of the country? Nigerians in the diaspora are just easy targets/scape goats for Nigeria's problems. Ignorance and lack of accountability are two big problems facing Nigerians. ednut1: |
| Re: Paradox Of The Japa Syndrome On The Nigerian Economy by papyjaypaul: 4:08pm On Apr 19, 2025 |
papyjaypaul: |
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