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.

We have reported several times how banking operations could not run efficiently because many banks are losing their best workers to companies in the US and Europe.

To date, Nigerian hospitals are losing the best talents in doctors and nurses, and patients are suffering for it. Between December 2021 and May 2022, no less than 727 Nigerian-trained medical doctors relocated to the UK, and between March 2021 and March 2022, at least 7,256 Nigerian nurses left for the UK also.

Irrespective of how much we get from diaspora remittances, it is time the government stops and improves on the issues chasing the country’s best away. We know it is possible for Nigeria to generate more diaspora remittances without the discouragement that drives away our skilled workforce. Instead, the government can create an encouraging environment so that even when the skilled talents decide to travel outside for work, they would always come back willingly to contribute their expertise to the local economy.

Source: https://businessday.ng/editorial/article/paradox-of-the-japa-syndrome/

Toh

Japaaaaa oOoOO, Tinubu is after my life

Hj

C

some Nigerian in dispora buy gadget cheaply from me, they claimed it’s too expensive over there and then send fund to Nigeria , I will advice the Nigeria government encourage these gadgets companies to produce here as it would reduce unemployment, those companies will employ our people here

Tell Bose, JBL to produce whatever they want to sell here.

A

Lol.

There is no paradox here. It is rather the results of our government's lack of foresight and long term planning that are ruffling.

I have said this repeatedly, for instance, our population, as is, is an asset if we know how to explore that. And one of the ways is to look at the number of willing JAMB candidates who are turned down from studying medicine and offered less competitive uni courses like Agric and zoology for instance.

We could increase our capacity for admitting core medical students into our unis with a grand plan towards exporting their services to around the world when they graduate. We could design a simple pathway for that. We would have more than enough for domestic healthcare and for export benefits. We could begin to reap benefits under 10 years and that is even a very short term ROI in the life of a country.

But no, we would moan on one hand that we don't want our people to japa and cry on the other that diaspora remittances are needed.

Tinubu where is our subsidy money?

The crux of the matter be say. This pattern is not sustainable. After 2 or 3 generations of person wey japa, dem no go remit shishi here again.

No be small paradox

Govt needs to make government positions less attractive, and work as they are paid to do, and not seeing taxpayers' monies and national reserves as a national cake.

That way, Nigerians wouldn't needed to add travelling overseas as prayer points.

chatinent:
Govt needs to make government positions less attractive, and work as they are paid to do, and not seeing taxpayers' monies and national reserves as a national cake.

That way, Nigerians wouldn't needed to add travelling overseas as prayer points.

Very true. They make such positions too attractive that people kill to get in. It is sad. We need to get our act right. If not na OYO for the country.

Diaspora Remittance, that one self he good.

Make me self dey reason this Japa things.

Ps: who get 20Milla wen he no need make he DM for my Opay details, I Wan use the money runs some package.

Over bloated figures

Yahoo Bois started the recent trend...

Go and verify

Who cares?

For now, the Japa syndrome cannot stop until there are major fixes in the country, especially in the power sector and manufacturing sector.

We can only follow the Indian model of providing more human resources for both home and abroad, that's the only way. To stop people from traveling out for better job opportunities is something that can never work.

Reading…

helinues:
Toh

You nor wan gree change this ya goat brain?

hopedey:
Tinubu where is our subsidy money?

Inside your governor's pocket. Ask him for your share.

Japa is actually good for Nigeria economy

Paradox ke..

Remittances is a good strategy for long term growth. OP is yarning dust. Take the Chinese for example. They had boots on ground in USA to help grow the US economy for decades but when they became rivals economically and otherwise to USA, the USA kicked them out to the gain of China where they returned to. Ours too can be like that. USA is a technological capital of the world and a good place for Nigerians to grow personally while growing the economy and balancing off imports or trade from USA.

Many companies are really struggling because of Japa.

It takes years to replace a skilled worker.

Great100000:
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.

Akiika, ẹ kú làákàyè.
The above is the koko of the matter.
Unfortunately, we have political hypocrites like Pandora Bitter Obi who would have screwed up like T-Pain is fcvking up big time.

bennybuhari:
“’I cannot take anything back about Obi. I said Obi said he wants to move Nigeria back from consumption to production and I said that is not true. He cannot do it because his own business survives on consumption. Is that a lie? He has been an importer and I said he deals with cash and carry economics; container economics, imports”.

“All the goods that can be produced in Nigeria, Obi imports them in his supermarkets. That is consumption economics. That kind of person cannot tell you that he is moving you from consumption to production. He will then be committing self-economic suicide and Obi will not do that to himself”.

“So, Obi is deceiving everybody and I can’t take that back because that is true.

https://independent.ng/peter-obi-deceiving-everybody-i-wont-retract-my-statement-about-him-dele-alake/
 

No one will leave a place where there is peace, provision and growth to a far away place of uncertainty.

Op, I appreciate your call for improved production and manufacturing rather than continuous Consumption driven economy but guess what any one who calls for this is regarded as Obidient, enemy of Nigeria or wailers.

Most of us have stopped bothering advising the governments or it's puppets who are paid crumbs to rub propaganda campaign all over the media and in religious places.

Good thing is, after the elected leaders tenure the puppets are discarded like trash forced to dine on the table they prepared overtime with propaganda.

This country's freedom was fought for by 3 idiots without vision or a mission
1. Obafemi Awolowo
2. Ahmadu Bello
3. Nnamdi Azikiwe

When they got the independence like clueless kids which they were started fighting for ownership of the Toy with no clear intentions of what to do with it when given and here we are today Meanwhile note

it is only a Nigerian girl you will see preparing for marriage and she only has #5k or less in her account.
With a mind blowing milage!!

It is only a Nigerian girl that knows what she deserves, but has 0 account balance, no job and her parents can't even afford to give her what she thinks she deserves.

It is only a Nigerian girl that believe what she deserves should be funded by a man's pocket.

Very delusional Woke, Feminist, Gen z & Beauty without brains

ShenTeh:
Lol.

There is no paradox here. It is rather the results of our government's lack of foresight and long term planning that are ruffling.

I have said this repeatedly, for instance, our population, as is, is an asset if we know how to explore that. And one of the ways is to look at the number of willing JAMB candidates who are turned down from studying medicine and offered less competitive uni courses like Agric and zoology for instance.

We could increase our capacity for admitting core medical students into our unis with a grand plan towards exporting their services to around the world when they graduate. We could design a simple pathway for that. We would have more than enough for domestic healthcare and for export benefits. We could begin to reap benefits under 10 years and that is even a very short term ROI in the life of a country.

But no, we would moan on one hand that we don't want our people to japa and cry on the other that diaspora remittances are needed.

A large population is rarely a boon for the people who make up that population. It is only an asset for exploiters who have a large pool of typically ill educated, poorly socialized people to take advantage of.

See India, China and Nigeria as prime examples.
It does not matter how much those economies grow the people will never stop trying to leave those countries because large populations are bad for the populace itself.

Japa! Japa!! Japa!!! How many times I call you?

Think am well before you o. All that glitters is not gold. It's not always greener on the other side.

You sell your properties to japa only to buy back or buy other properties at home after some years, that is, if you are lucky there. Some will never acclimatize or adjust, and they become a shadow of themselves - japa hell to come back wahala.

Think am well before you go and always have a fall back option. Oyinbo no like us o and no place like home.

CodeTemplar:
Remittances is a good strategy for long term growth. OP is yarning dust. Take the Chinese for example. They had boots on ground in USA to help grow the US economy for decades but when they became rivals economically and otherwise to USA, the USA kicked them out to the gain of China where they returned to. Ours too can be like that. USA is a technological capital of the world and a good place for Nigerians to grow personally while growing the economy and balancing off imports or trade from USA.

Kindly share the source and link for the bold claim.


What did China do to grow exponentially for some decades, which we are also doing now, to make sure that you are not just blabbing renewed hopelessness without the requisite work