₦airaland Forum

After the cut... Action! Gbas gbos!

seunmsg:
Can you haters stop talking nonsense? Diaspora remittance is a major source of forex earning for Nigeria and sadly, it has been dwindling over the years. Under Buhari, Emefiele even started offering Nigerians in diaspora extra N5 for every dollar remitted yet, the response wasn’t so good. People in recent times preferred sending money to rel atives at home through crypto and fintechs. outside banking control. Now that there is significant improvement, it means confidence is returning to the system. It is a good indication that the reforms are working. Only senseless and irredeemable haters will attribute this to suffering. People remit money home from all over the world. It has nothing to do with the high cost of living all over the world.

Have the forex earnings from global remittances so far been used to build infrastructure, or better the quality of education or the quality of health services or create employment or increase minimum wage or pay, at least, health subsidies? Or has it been used to further increase the allowances of senators and government officials?

Any country that depends so much on global remittances has grassroot problems that need to be fixed before anything else. (Read about the causes of unemployment and brain drain)

Now you said it has nothing to do with the cost of living? I'll explain to you like you're a five-year-old (because your cognition is apparently not far from theirs):
The purchasing power of the naira has decreased, meaning #100 can no longer be used to buy as many cups of rice for the Adamus as it could before; Now say the minimum wage is #100 and is still stuck on #100 despite this new fate of the naira (Mr & Mrs Adamu are minimum wage earners), they will no longer be able to afford the same quantity of rice they had been buying because the cost of food (which everyone needs to stay alive) has gone high and their income in Nigeria remains unchanged. As a result, Umaru who is their cousin and a medical doctor (who by the way left the country to offer his medical services abroad as a result of the poor standards of living back here in Nigeria) has to send them some money just so they survive. Now, the government generates some revenue as Umaru does this yet fail to increase the minimum wage of workers and improve the standards of living, hence; to the detriment (sacrifice) of the masses, the government can get more global remittances.

It will do this country a great deal if asinine, irredeemable followers like you told yourselves some home truths.