$600 Million Monthly Diaspora Remittances Proof Of Reforms

$600 Million Monthly Diaspora Remittances Proof Of Reforms – FG - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG (7751 Views)

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Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by Creamz(m): 5:46am On Sep 02, 2025

It shows the number of people who ran away, making it and are sending back to their country to help their family members and those who are hungry!

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by marv1: 5:46am On Sep 02, 2025

Confused and propaganda government. How can you be using diaspora remittance judge achievement. ? What an empty government without sence. Using different ways to tell lies to the people. Haba , This government is nothing but shamble . Chasing shadows just to score cheap popularity and deceiving people. Lie government without conscience

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by DeLaRue: 5:47am On Sep 02, 2025

SmartPolician:
$600 monthly remittance amounts to $7.2 billion.

Nigerians were sending home $20 billion annually before now.

How on earth do you people call this growth?
https://nairametrics.com/2025/07/26/diaspora-remittances-to-nigeria-hit-20-93b-in-2024/

1. The $600 million refers to the monthly amount coming in directly through the recently introduced
Non Resident banking route introduced by the CBN, not the entire remittances coming into Nigeria.

2. In order to avoid giving Mr Tinubu the credit, you cleverly said 'before now', when the truth is that it was in 2024, under Mr Tinubu, that
remittances rose to a record $21 billion , but ofcourse you won't give Mr Tinubu's administration the credit.

https://data.worldbank.org/indicator/BX.TRF.PWKR.CD.DT?locations=NG

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by Originalsly: 5:50am On Sep 02, 2025

Really? The increase in remittances reflect an increase in poverty in the country. If things are getting better there will be less need for remittances.

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by Good2go1: 5:53am On Sep 02, 2025

What is Tinubu’s contrition in despora returns?

if Tinubu’s policy is working people resident in Nigeria will feel it, despora returns simply shows Nigerians in foreign countries send more money to support their suffering relatives in Nigeria due to Tinubu's failed leadership.

Tinubu must go back to Yoruba land come 2031

DeLaRue:
And some want us to change the most reformist President in the history of Nigeria and bring in a bunch of mostly failed politicians in 2027

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by DeLaRue: 5:57am On Sep 02, 2025

Good2go1:
What is Tinubu’s contrition in despora returns?

if Tinubu’s policy is working people resident in Nigeria will feel it, despora returns simply shows Nigerians in foreign countries send more money to support their suffering relatives in Nigeria due to Tinubu's failed leadership.

Tinubu must go back to Yoruba land come 2031

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by segun18(m): 6:00am On Sep 02, 2025

Dbegining:
Proof of reform or proof of a dying economy?

Proof of reform or proof of a suffering people? These monies are not for investment but rather monies sent to loved ones from the diaspora. That means the cost of living has increased and begging has increased.

I really condemn in the strongest of terms how this government calls it's bad economic decisions

reforms.

God bless you for your sharp mind

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by okeke6969: 6:01am On Sep 02, 2025

DeLaRue:
And some want us to change the most reformist President in the history of Nigeria and bring in a bunch of mostly failed politicians in 2027

Go drink your milk before it gets sour. You need more energy.

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by segun18(m): 6:01am On Sep 02, 2025

Creamz:
It shows the number of people who ran away, making it and are sending back to their country to help their family members and those who are hungry!

That is exactly the point

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Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by PrincessDiana: 6:02am On Sep 02, 2025

I really wonder why Mrs. Dabiri and Mr. Cardoso had to bring this to public awareness. This is not positive news.
Many Nigerians remember how much remittances were sent as a result of Emefiele's N5 naira/dollar for remittances. And it's was even paid to recipients in dollars.
Now this government is still collecting the dollar equivalent and giving Nigerians naira. No wonder remittances fell to $200M last year.

What a shame!

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by okeke6969: 6:02am On Sep 02, 2025

[quote author=DeLaRue post=136660834]And some want us to change the most reformist President in the history of Nigeria and bring in a bunch of mostly failed politicians in 2027 huh

Go drink your milk before it gets sour. You need more energy.

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by ninetiethcrown7(m): 6:03am On Sep 02, 2025

Dbegining:
Proof of reform or proof of a dying economy?

Proof of reform or proof of a suffering people? These monies are not for investment but rather monies sent to loved ones from the diaspora. That means the cost of living has increased and begging has increased.

I really condemn in the strongest of terms how this government calls it's bad economic decisions reforms.

I don’t think you understand the article. The 600M is passing through official channels. Last year Nigeria had diaspora inflows of over 20billion and 90% of that was came in through the black market because of the foreign exchange arbitrage in the black market. (Why would you send Money home through official rate when you can get almost double in the black market).

This shows that within the next year, half of the total diaspora inflows would be channeled through the offical channels. Increasing Fx reserves and investor confidence. This is really a great achievement.

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by PrincessDiana: 6:04am On Sep 02, 2025*

Which $20 billion came in through black market? How did they send the money to the black market?
You dont need to be twisting facts to justify ineptitude.
See the screenshot below.

DeLaRue:
1. The $600 million refers to the monthly amount coming in directly through the recently introduced
Non Resident banking route introduced by the CBN, not the entire remittances coming into Nigeria.

2. In order to avoid giving Mr Tinubu the credit, you cleverly said 'before now', when the truth is that it was in 2024, under Mr Tinubu, that
remittances rose to a record $21 billion , but ofcourse you won't give Mr Tinubu's administration the credit.

https://data.worldbank.org/indicator/BX.TRF.PWKR.CD.DT?locations=NG

3 Likes

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by tonesky(m): 6:05am On Sep 02, 2025

This has shown how naive this government is. If I sent money to my siblings and parents in Nigeria; it's benefit of their reform. Everyone in this present government needs at least to enroll in adult education.

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by Sirianese: 6:10am On Sep 02, 2025

yns4real:
https://punchng.com/600m-monthly-diaspora-remittances-proof-of-reforms-fg/

Even if na dog born, dem go talk say na because their Lagos-builder dey build Nigeria

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by bobbiiee: 6:12am On Sep 02, 2025*

How is this good news? Some people work two or three jobs just to make ends meet. Despite their struggles, many still send money home to support their families while trying to save for their own future, aware of the potential risks due to existing policies. Yet, this is being celebrated as an achievement. If such a fund is created from tourism, it would be incredible. If you have people abroad, who are honest with you, they will tell you how they fare.

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Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by Yankee101: 6:13am On Sep 02, 2025

It is not
Naira is cheaper
Nigerians abroad are building houses

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Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by IfYou: 6:21am On Sep 02, 2025

DoctorStanley:
The masses are hungry
The masses are hungry
The masses are hungry

If You Are Hungry, Go Cultivate Foods And/Or Raise Some Farm Animals.

If The Masses Are Hungry, They Should Do The Same.

It's No Politician Duty To Help You Cultivate Foods!

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by BigBrother54321: 6:23am On Sep 02, 2025

Foriegb Remittance is not FDI. While the inflow helps stabilize the economy and more of it would be better for us, the government is not responsible for it in any way.

Or how else would you explain the impact of the govt in Nigeria on how much a janitor in the UK or US decides to send home.

Also something they don't tell you is that a decent chunk of this money is even from yahoo boys.

DeLaRue:
1. The $600 million refers to the monthly amount coming in directly through the recently introduced
Non Resident banking route introduced by the CBN, not the entire remittances coming into Nigeria.

2. In order to avoid giving Mr Tinubu the credit, you cleverly said 'before now', when the truth is that it was in 2024, under Mr Tinubu, that
remittances rose to a record $21 billion , but ofcourse you won't give Mr Tinubu's administration the credit.

https://data.worldbank.org/indicator/BX.TRF.PWKR.CD.DT?locations=NG

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by ceejayluv(m): 6:24am On Sep 02, 2025

Foolish talk

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by bitingcool: 6:29am On Sep 02, 2025

ScamDemicEra:
... has nothing to do with renewed confidence in economy -it's to do with many more family and loved ones needing help more than ever before due to bad economy !!

Otumopo/satanism/occult/rigging can win election but can never help in actual governance !!

Exactly!!

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Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by Almunjid: 6:31am On Sep 02, 2025*

Dbegining:
Proof of reform or proof of a dying economy?

Proof of reform or proof of a suffering people? These monies are not for investment but rather monies sent to loved ones from the diaspora. That means the cost of living has increased and begging has increased.

I really condemn in the strongest of terms how this government calls it's bad economic decisions reforms.

This is proof of reform, and you should be happy that Nigeria is getting it right this time. You must not criticize every policy simply because your favorite politician—who may not have performed as well as Tinubu—didn't win the 2023 election. Diaspora remittances have become one of the most powerful engines of growth and resilience across the African continent. As of 2023, Africa received over $100 billion in remittances. This year (2025), Nigeria is projected to be the second-largest recipient behind Egypt, a position achieved due to the current government's reforms. You should admit this for once; even Egypt is first because of its government reforms. The following article from Dabafinance explains it better:

Top 10 Diaspora Remittance Destinations in Africa

Diaspora remittances, money individuals send to their home country from abroad, have become one of the most powerful engines of growth and resilience across the African continent. As of 2023, Africa received over $100 billion in remittances, amounting to approximately[b] 6% of the continent’s GDP.[/b]

This surpassed both official development assistance ($42 billion) and foreign direct investment (FDI) ($48 billion), highlighting a seismic shift in the region’s external financing dynamics.

Behind this surge lies the movement of over 40 million Africans living abroad, who, in pursuit of better incomes, political stability, and security, send financial support back to families and communities. These remittances not only meet essential household needs but also exceed FDI in many countries and are now a cornerstone of national economic stability.

Here are the top 10 African countries receiving the most in remittances in 2025—each playing a vital role in the continent’s development and resilience.

1. Egypt – $22.7 Billion

Egypt remains Africa’s top remittance destination, with inflows reaching $22.7 billion in 2024. This boost is due to the government’s liberalization of exchange rates and the introduction of high-yield savings instruments that attracted diaspora funds through formal banking systems. Egypt’s global diaspora—especially across the Gulf, Europe, and North America—forms a strong support network. Their contributions help finance education, healthcare, and investment in small businesses, reinforcing macro-level financial stability and household-level resilience.

2. Nigeria – $19.8 Billion

Nigeria follows closely with $19.8 billion in remittances, representing 35% of Sub-Saharan Africa’s total inflows. These funds have overtaken traditional FDI in importance, offering a stable source of capital. With remittances coming largely from the U.S. and U.K., Nigeria’s diaspora serves as a lifeline for millions. The government is considering the issuance of diaspora bonds and has targeted $1 billion in monthly inflows, seeing these transfers as a pathway to boost foreign reserves and diversify the economy.

3. Morocco – $12.05 Billion

Morocco received over $12 billion from its diaspora in 2024, making it the third-largest recipient in Africa. Moroccan migrants maintain strong ties to their homeland, contributing consistently to family support and national development. These funds support household consumption and also finance infrastructure projects, home construction, and small-scale business ventures—offering a critical cushion in periods of global economic uncertainty.

4. Kenya – $4.94 Billion

Kenya recorded a historic high of $4.94 billion in remittances—an 18% increase over the previous year. These inflows now exceed tourism and agriculture as the country’s largest source of foreign exchange. A major driver has been proactive government policy under President William Ruto, who has supported labor migration and bilateral work agreements to expand diaspora employment opportunities. Kenya’s diaspora, especially in North America and Europe, continues to be a driving force in its economic story.

5. Ghana – $4.6 Billion

Ghana’s remittance receipts reached $4.6 billion in 2024, helping to fund education, health care, and housing for millions of families. The country has invested in diaspora-targeted policies such as investment facilitation and financial literacy campaigns. With the cost of living rising, these funds are also vital for consumption and social welfare, reinforcing the household safety net and improving national economic resilience.

6. Zimbabwe – $3.08 Billion

Zimbabwe received $3.08 billion from its diaspora—a critical buffer in a struggling economy marked by inflation and unemployment. Over the past decade, while FDI declined by 41%, remittances have increased by 57%, revealing a clear trend in global capital movement toward people-centric inflows. Zimbabweans abroad are helping families pay for food, education, and small-scale enterprise, and the government is ramping up efforts to formalize these inflows through digital platforms and diaspora engagement programs.

7. Senegal – $2.94 Billion

With remittances representing 11% of GDP, Senegal received $2.94 billion in 2024. The country is actively harnessing this inflow for development, with initiatives like a “diaspora bank” that encourages investment in tourism, agriculture, and housing. These funds have become a dependable source of external financing—more stable than FDI, particularly during global downturns—and are shaping local entrepreneurship and infrastructure.

8. Tunisia – $2.8 Billion

Tunisia garnered $2.8 billion in remittances, placing it among the top contributors to North Africa’s economic stability. Tunisian migrants—especially in France and Germany—send funds primarily for family support and investment in land and housing. The government is working to encourage formal transfer systems and reduce costs, in line with global calls to lower remittance fees to boost flows to Sub-Saharan Africa.

9. Algeria – $1.86 Billion

Algeria’s remittance inflow of $1.86 billion might seem modest, but it continues to be a vital component of the national income portfolio, particularly during periods of oil price volatility. The country’s diaspora has also begun exploring more structured investment opportunities back home, such as fintech and real estate, though regulatory frameworks still need modernization.

10. Democratic Republic of Congo – $1.4 Billion

The DRC rounds out the top 10 with $1.4 billion in diaspora inflows. Despite a decline from previous years, remittances remain a crucial form of financial relief, especially in regions underserved by formal employment or social safety nets. As climate change, economic hardship, and political instability drive continued migration, remittance inflows to countries like DRC are expected to rise in the coming years, especially if costs to send money are reduced.

https://www.dabafinance.com/en/insights/top-10-diaspora-remittance-destinations-in-africa

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by swimmer: 6:35am On Sep 02, 2025

yns4real:
https://punchng.com/600m-monthly-diaspora-remittances-proof-of-reforms-fg/

Look at these jokers.

In 2022, Nigeria got 22 billion Dollars annually from diaspora remittances - that's about 1 billion dollars monthly.

Now A bike Dabiri is saying that the reforms are working that's why we dropped to 600 million dollars per month.

Do this people even think huh

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by casualobserver: 6:38am On Sep 02, 2025

Kobojunkie:
Only $600 million a month at this point in time? Yikes! Nigerians in diaspora no dey too send money home again abi wetin? At this rate, the county will fall far short of previous high of about $17 billion a year from the diaspora.😐😐😐😐

When people read but don’t comprehend it leads to poor understanding of the issues.

This is the amount of remittances that is now coming in via official channels not the total remittances.

It means instead of the past where Nigerians abroad bring in cash and exchange to Naira via street vendors or look for someone who needs forex and credit the person’s account abroad in exchange for credit to Naira account. More and more diasporans are either using their foreign cards in Nigeria or transferring the monies direct to their accounts in Nigeria. That’s what they mean by official forex inflows.

It means more of the diaspora remittances now sits inside the formal banking system.

When they say go to a good school, it is not a scam!

2 Likes 1 Share

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by NwaliE01: 6:45am On Sep 02, 2025

Remittance went up because we have lots of people struggling to feed back home.
Lots of people struggling to pay school fees, lots of people unable to pay their rentals.

This is not a good sign at all and we shouldn't celebrate this wickedness!

2 Likes 1 Share

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by DoctorStanley: 6:51am On Sep 02, 2025

IfYou:
If You Are Hungry, Go Cultivate Foods And/Or Raise Some Farm Animals.

If The Masses Are Hungry, They Should Do The Same.

It's No Politician Duty To Help You Cultivate Foods!

The masses say ebin pawa. I'm not the masses

1 Like

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by Herkim(m): 6:52am On Sep 02, 2025

PepeXKermit:
See wetin nigeria dey use achievement. Their angle is that the economy is soo good that disaporans are sending money back home to invest, i would argue that nigerians in disapora have to send more money for their familirs to feed because thr high rate of hunger and economic instability is not dnabling nigerians at home make ends meet.

Abike dabiri is very useless, - not sorry to say - and she should need to vacate this post, i wonder if tenure for this nidcom chairman never ends. You can imagine how much of an arse licker you need to be to keep this position for a pretty long time like abike.

This is knowledge gap from you, this is part of major earnings from abroad into Nigeria economy. It is use to boost the economy.

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by Herkim(m): 6:57am On Sep 02, 2025

NwaliE01:
Remittance went up because we have lots of people struggling to feed back home.
Lots of people struggling to pay school fees, lots of people unable to pay their rentals.

This is not a good sign at all and we shouldn't celebrate this wickedness!

You are right to some extent. Most of Nigerians that sent money home are for speculative motives I e Investment.

Re: $600 Million Monthly Diaspora Remittances Proof Of Reforms – FG by anonimi: 6:58am On Sep 02, 2025

DeLaRue:
And some want us to change the most reformist President in the history of Nigeria and bring in a bunch of mostly failed politicians in 2027

When YOUR failed politicians were in office, we didn’t need to fast and pray to japa to cold and racist countries.

https://www.accord.org.za/conflict-trends/the-migrant-crisis-in-libya-and-the-nigeria-experience/

16 years of PDP deregulation and privatisation prosperity were abruptly ended by eb1lokan’s fraudulent APC change promises that are nothing but shege.

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

anonimi:
Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?

In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;

or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority?
@
@
The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.

Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.

https://www.thisdaylive.com/index.php/2024/10/12/neo-black-problem-must-blacks-be-ruled-by-whites-in-order-to-prosper/

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