₦airaland Forum

sunnyb0b0:
We are talking about dollar, euros and pond sterling remittances here which is providing stability to Nigeria's economy by stabilising forex rates. The people you mentioned above ie Dangote and Adenuga while they contribute to the economy are net consumers of forex. You call remittances pocket money but it's competing and sometimes beats foreign earnings from oil which is the largest foreign exchange earner for Nigeria. You call it pocket money? An average Igbo man living abroad sends substantial amount if money to invest and purchase properties in Nigeria. At least with the pocket money, they've been able to own 80% of properties in Abuja according to Okoi Obono-Obla on Channels TV 2 weeks ago. El-Rufai said it was 75% during his time as FCT minister.

Face the reality Bro and if you may know, I'm not as an Igbo man seeking anybody's love. Keep hating while we keep growing. Nsibeghe okpok ye barber?

Agwo Annang ade agwo uko.

no be drug money ? we no dey see am for here every time ?

NtoAkwaIbom:
na una type dey buy bad blood for other IGBO people... so all those pocket money wey people dey send na him u go carry go compete with d money wey Dangote dey get from him cement factories across Africa or na him come big pass money wey Adenuga dey make from him glo telecom across west Africa ?
this una "We are better than every other person" mumu lifestyle go buy una genocide one day...

ode they did not capture remittance from African countries, pls read again.

And world bank did not say it was government agency rather countries in Europe etc that employ our people. Back home I have about five friend's based outside that have finished their building project this year at enugu. Remittance is the process or ways they send money home 4 this projects.

And there is a report that says they can't fund the 2017 budget......the year has gone already.

all thanks to yahoo Yahoo boys

NtoAkwaIbom:
no be drug money ? we no dey see am for here every time ?

You mean like this one is one if the drug monies? Anyway, that'd be a topic for another day.

https://www.nairaland.com/3388533/meet-godwin-maduka-one-africas

NtoAkwaIbom:
na una type dey buy bad blood for other IGBO people... so all those pocket money wey people dey send na him u go carry go compete with d money wey Dangote dey get from him cement factories across Africa or na him come big pass money wey Adenuga dey make from him glo telecom across west Africa ?
this una "We are better than every other person" mumu lifestyle go buy una genocide one day...

I don't think company profits like that of Dangote and Adenuga is included.

Tamass:
Oga 26bn dollars is not missing...it was awarded on contract without due procedures

tell me another means of looting if not awarding contracts without due process

ask yourself why those contracts were awarded without due process in the first place. something is fishy joor

where is the 25 billion, buhari?

londoner:
People are remitting to their families to make up the shortfall of an ineffective government and lack of functioning systems. They are not remitting to the government so they can't decide how the money is used. It is the diaspora that can create something outside of Nigeria to direct their money to specific projects within Nigeria in a way they see fit.

They are not funding the government that's what Nigerian taxpayers should be doing.

I believe there's a bill for private funding for infrastructures before the NASS. Now if passed and signed by the Executive, it means that Private companies can now invest in the construction of roads, rails, seaports, underground tunnels/highways, etc.

The companies can raise funding by appealing to Nigerians in Diaspora to invest in these projects and recoup their investments.

the banks and cbn are the beneficiaries of this forex. they short change the public with the wide exchange margin gap from foreign remittance.

NtoAkwaIbom:
na una type dey buy bad blood for other IGBO people... so all those pocket money wey people dey send na him u go carry go compete with d money wey Dangote dey get from him cement factories across Africa or na him come big pass money wey Adenuga dey make from him glo telecom across west Africa ?
this una "We are better than every other person" mumu lifestyle go buy una genocide one day...

I think you didn't understand the whole issue

DeRay98:
When people say such you can tell that they are ignorant and jealous. The population of Nigerians abroad in such jobs is minute compared to the population doing respectable and other professional jobs in great places.
There are hundreds of thousands if not millions of Nigerian, Engrs in diff engineering fields, nurses, doctors and other health care professionals, lecturers, researchers, IT experts, transportation, entrepreneurs etc.
These are highly paying jobs and lots of them see opportunity for investments in Nig and they regularly send money home for such and also supporting family and friends.
The some total of these moneys sent home is helping the economy.

Spot on. Some of them only went to school due to money remitted from overseas even. Without these regular remittances, there would be a lot more armed robbers, kidnappers, more prostitutes and more young people of both sexes out of school and wallowing in poverty and roaming the streets. Go to places like Enugu, Ibadan, Akure, Benin, Ado, Abeokuta, Warri, Lagos suburbs and other places, a large number of new buildings going up are done by diaspora people, creating many jobs in construction and building material business.

Never mind hotels, farms, and other small & medium scale businesses. Even though often, several diaspora hotel owners had to sell the business. Once they travel abroad, staff there connive to NOT record 30 to 50% of guests received. They share the money. When the owner is in 9ja, occupancy is good. Each time he leaves, it reduces drastically. It does not often matter if a relative is put in charge. Putting many people off investing in business in 9ja, except returning home for good.

Some of the finest medics I know in some the very top university hospitals here in UK are Nigerians. Especially in gynaecology. Not to mention the teeming nurses.

just imagine pumping 26 billion dollars into private power generation instead of buying iPhone and building non inhabited houses

AreaFada2:
Spot on. Some of them only went to school due to money remitted from overseas even. Without these regular remittances, there would be a lot more armed robbers, kidnappers, more prostitutes and more young people of both sexes out of school and wallowing in poverty and roaming the streets. Go to places like Enugu, Ibadan, Akure, Benin, Ado, Abeokuta, Warri, Lagos suburbs and other places, a large number of new buildings going up are done by diaspora people, creating many jobs in construction and building material business.

Never mind hotels, farms, and other small & medium scale businesses. Even though often, several diaspora hotel owners had to sell the business. Once they travel abroad, staff there connive to NOT record 30 to 50% of guests received. They share the money. When the owner is in 9ja, occupancy is good. Each time he leaves, it reduces drastically. It does not often matter if a relative is put in charge. Putting many people off investing in business in 9ja, except returning home for good.

Some of the finest medics I know in some the very top university hospitals here in UK are Nigerians. Especially in gynaecology. Not to mention the teeming nurses.

Very true.
The sad part is the fact that our people at home do not appreciate the good intents of a diaspora Nig starting a business at home to create job for the young and make money too from the investment.
Once you're out they run your business down by mismanaging it or stealing from the investment.
They forget that if the business doesn't grow it can't employ more people or lift them.
As far they're concerned you have made your money abroad its their entitlement to "make" theirs from you.
Bad belle and stupidity is evil and counter productive.

signz:
I believe there's a bill for private funding for infrastructures before the NASS. Now if passed and signed by the Executive, it means that Private companies can now invest in the construction of roads, rails, seaports, underground tunnels/highways, etc.

The companies can raise funding by appealing to Nigerians in Diaspora to invest in these projects and recoup their investments.

I believe this time the diaspora should lead it. We should partner and not just fund. We should be part of the planning and diasporas should be able to be part of the projects too because we are not just providers of money. Many diasporas are engineers, architects, town planners, lawyers themselves so they should actively be able to get opportunities for them and their children in projects they are funding or part funding.