NEWS

Diaspora Remittances Key Component Of Nigeria’s Devt Financing -DTCA


By Debbie Benjamin


The Directorate of Technical Cooperation In Africa, DTCA, has harped on the importance of Diaspora Remittances as a key component of Nigeria’s development financing, even as it revealed that the new Central Bank policy on payment of Remittances in dollars is a big boost. 
This formed part of the communique issued at the end of a ‘Think Nigeria’ Diaspora Symposium, titled “Engaging The Nigerian Diaspora For Inclusive Development,” organised by the Directorate of Technical of Cooperation in Africa (DTCA).
The Minister of State for Foreign Affairs, Amb Zubairu Dada, who delivered a keynote address, revealed that, for three consecutive years, the Diaspora remittances has climbed to about 25 billion United States dollars, which is equivalent of six percent of Nigeria’s GDP. 
“In view of the importance government attached to the Nigerian Diaspora, it has gone ahead to streamline the diaspora activities with the creation of Nigerians in Diaspora Commission (NIDCOM).” Amb Dada also said this initiative has given birth to National Diaspora Day, Nigeria Investment Summit etc.
The communique noted that” Nigeria must create a conducive environment at home, to earn the confidence of its Diaspora to return home.”
Former Permanent Secretary, Ministry of Foreign Affairs, Amb Joe Keshi, who was the Chairman of the Occassion, revealed that” the Nigerian Diaspora is a huge community with pools of skills that if properly harnessed can contribute significantly to national development.”
The Director General of DTCA, Mahmud Yahaya Adamu said, since creation, the directorate has been harnessing professionals for the development of the African continent. He particularly commended the press for being at the forefront of propagating the directorate’s advocacies.
 Communique commended “NIDCOM for working to collate data of Diaspora Nigerians, leveraging on evolving technology, with the aim to produce a comprehensive data bank of its Diaspora in 2021.”

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