Business

Diaspora Remittances Stood At $21.9b In 2022 — Tinubu

Published

2 years ago

July 25, 2023

The Federal Government said Diaspora home remittances in 2022 stood at US$ 21.9 billion through official channels.

Nigeria’s President, Bola Ahmed Tinubu, said this at the 17th annual National Diaspora Day (NDD), 2023, at the Conference Centre, Presidential Villa, Abuja, on Tuesday.

The theme of the day was: “Consolidating Diaspora Engagement for National Development”.

Tinubu was represented by Hon. Femi Gbajabiamila, his Chief of Staff.

The president said Nigerians were excelling globally and contributing immensely to the country’s development through their resources, talents, skills and global exposure.

“In 2022, our Diaspora home remittances through official channels stood at US$ 21.9 billion, over four times the value of our Foreign Direct Investment (FDI).

“The Nigerians in the Diaspora are also actively investing in healthcare, agriculture, education, information and communication technology, housing and real estate, sports, transportation, oil and gas and other sectors.

“This I must say is commendable and in our enlightened self-interest as only Nigerians both at home and abroad can develop Nigeria.”

He also estimated Nigerians in the Diaspora at over 17 million and reiterated that the government held the Diaspora in high esteem and worked hard to uplift engagements with them.

He said parts of the engagement included the passage of the Nigerians in Diaspora Commission (NiDCOM) (Establishment) Act in 2017, and its take off in 2019, and the approval and adoption of the National Diaspora Policy in 2021.

Tinubu also described the day as special owing to the new initiatives by NiDCOM to celebrate contributions of the Diaspora champions with the introduction of the maiden edition of the National Diaspora Merit Awards.

He said the initiative would serve as a morale booster for the Diaspora community and also encourage Diaspora engagement and participation for national development.

The president also commended the commission for its dynamic engagements with the Diaspora community, especially with laudable programmes for Nigerians in Diaspora to invest at home.

“I believe in the years to come, these programmes will impact tremendously on our economy by catalysing our developmental efforts.

“May I therefore encourage you to key into these programmes for our mutual benefits.

“May I also let you know that this new democratically-elected government is a Diaspora friendly one, which will provide an enabling platform for effective policies for the Diaspora with the view to galvanising support for the new administration and concretising our democracy, setting a good example for other African countries to emulate.”

He assured that the government would address some of the challenges the commission faced to make it more effective with the Diaspora for national development.

In her welcome address, Mrs Abike Dabiri-Erewa, Chairman, NiDCOM, said the theme of the day was a summary of the entire mandate of NiDCOM.

Dabiri-Erewa said the mandate was to engage and harness the talents, skills, resources and global exposure of Nigerians in the Diaspora for national development.

“Our interactions with the Diaspora community during this year’s National Diaspora Day celebrations therefore are expected to mobilise the Diaspora to key into some of the programmes of the government and to chart improved and better ways on how to achieve the positive results for national development within the “Renewed Hope Agenda” of the government.”

The chairman urged the federal government for a review of the Act setting up NiDCOM to streamline its activities by setting up a sustaining funding mechanism for the commission’s activities.

She encouraged the government to support and conclude the setting up of the Nigeria Diaspora Investment Fund (NDIF) as an investment window for the Diaspora, and the setting up of a Diaspora Intervention Fund for emergencies involving the Diaspora.

In his opening remarks, Amb. Adamu Lamuwa, Permanent Secretary, Ministry of Foreign Affairs, applauded the Nigerians in the Diaspora for their contributions in Nigeria.

Lamuwa was represented by Amb. Samson Itegboje of the ministry.

The permanent secretary commended NiDCOM for its efforts and promised to work hand-in-hand with the commission for better Diaspora relations.

Highlights of the day included a cultural performance by the National Council for Arts and Culture, a musical interlude performed by Christiana Igbokwe, granddaughter of the late Nigerian musician, Christy Essien-Igbokwe, a saxophone played by OreOfe Sax, among others.

(NAN)

Business

Dangote Fuel Sells Cheaper In Togo Than In Nigeria – Falana Laments

Published

3 days ago

September 15, 2025

Editor

Human rights activist Femi Falana, SAN, has lamented that fuel taken from Dangote is cheaper in Togo than in Nigeria.

Falana expressed his concerns on Sunday while responding to questions in an interview on Politics Today, a programme on Channels Television.

He urged the federal government to review the proposed 5 per cent fuel surcharge and ensure that further hardship is not imposed on Nigerians.

“I guess the government wants to go back to the drawing table and ensure that it is not accused of multiple taxes or double taxation because consumers will pay VAT for buying fuel. They will now put an additional 5 per cent tax.

“I think this is what Nigerians are complaining about. And from what we just read today is that the Dangote fuel taken from Nigeria is now cheaper in Togo than in Nigeria I think about 65 naira.

“So, the government will have to review these developments (the proposed 5 per cent fuel surcharge) and ensure more hardship is not imposed on Nigerians,” he said.

Business

Falana Reveals Those Behind Subsidy Removal

Published

3 days ago

September 15, 2025

Editor

A Senior Advocate of Nigeria, Femi Falana, has once again criticised President Bola Tinubu’s removal of the fuel subsidy.

Speaking in an interview on Sunday’s Politics, a programme on Channels Television, the human rights activist stated that no country in the world has completely abolished subsidies.

“There’s no way you can remove subsidy completely. No country in the entire world has abolished subsidies completely.

“Even leading Western countries like the United States, the United Kingdom, France and others subsidise electricity, agriculture, and many aspects of the lives of their people.

“So, when the Nigerian Government said it was removing subsidies, as a matter of fact, if I must say this, it was the World Bank and the International Monetary Fund, IMF, that insisted that the government must remove all subsidies,” he said.

Business

‘We Like Greek Gifts,’ Nigerians Blast NUPENG Over Dangote’s Fuel Price Reduction

Published

5 days ago

September 13, 2025

Editor

The decision of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to warn Nigerians against accepting Dangote Refinery’s recent fuel price reduction has drawn heavy backlash on social media, with many citizens mocking the union and embracing what they described as “much-needed relief.”

Dangote had announced lower petrol pump prices in several states alongside a new scheme to deploy compressed natural gas (CNG) trucks directly to filling stations, a move expected to reduce logistics costs.

But NUPENG dismissed the offer as a “Greek gift,” alleging that the refinery was undermining workers’ rights, sidelining the union, and pushing drivers into a rival association.

However, netizens have lambasted the union, querying that during hard times, NUPENG has never supported the masses.

On X (formerly Twitter), Nigerians quickly turned NUPENG’s warning into a trending topic, using humour and sarcasm to lampoon the union.

Oloye Somorin Osifeso (@OloyeSomorin) wrote: “We like Greek gifts in my garage.”

Just Jude (@JustJude) asked bluntly: “Is it your deception?”

Oladele (@Oladele) quipped: “As Dangote Refinery dey offer Nigerians Greek gift, why can’t NUPENG too offer Nigerians French gift?”

Agbalaka (@Agbalaka) queried: “Can they tell Nigerians what exactly they are fighting about?”

CBN Gov Akinsola (@Akinsola) joked: “Then give us Trojan gift now 😆. Man do man. Man no go vex.”

Omobalaji (@Omobalaji) teased: “NUPENG, oya surprise us with Arabian gifts.”

Habdulakeem Bahdmus (@BahdmusHabdulakeem) added: “If Dangote is showering Nigerians with Greek gift, NUPENG can also set up a Roman gift now.”

Femi Yekinni (@FemiYekinni) steered it back to reality: “We thank them for their advice. Now, @DangoteGroup pls how do we schedule deliveries to Badagry?”

Curtis Abbi (@CurtisAbbi) slammed the union: “Nigerians will manage the Greek gift. @officialNUPENG9, what gift have you given Nigerians in your entire years of existence? NUPENG should offer Nigerians their own Somalian gift 🤣.”

Akin Adejola (@AkinAdejola) echoed the sentiment: “LOL. I can bet Nigerians don’t mind the gift. NUPENG should gift Nigerians same ‘Greek gift’ too if they have any goodwill. NUPENG is the enemy of progress in the oil & gas sector.”

Adeola Akinwande (@adeolarewaju9) criticised union leaders: “Does NUPENG remember Nigerians at hard times? They have all failed Nigerians the same way the @NLCHeadquarters has failed. They are living big on unionism and cashing out big time. Without unionism, some of their excos are nobody. They should stop the crocodile tears.”

Okunwa U. U. Azikiwe (@OkunwaUUazikiwe) argued: “Competition has created jealousy by the previous monopoly in the sale of fuel. They have lost control, and it is paining them that they are no longer in control. SMH!!!”

Solihull Abdulkareem (@SolihullAbdul) chipped in: “NUPENG or whatever, do you want the market to be monopoly? You’ve been doing what you want for many years. It’s time for change, just accept it and move forward.”

Temidayo (@Temidayo) asked: “It’s a lie. What benefits has your union provided for Nigerians? Middlemen syndrome has been room for corruption. Your association should go and buy shares in Dangote and work together to make Nigeria great.”

And LegalTech Sam Akanbi (@SamAkanbi) summed up: “Nigerians no longer want your Nigerian gift, we want the Greek gift. If you have a better offer, we’d abandon Dangote’s Greek gift and take yours. But for now, let the Greek gift go round.”

Recall that NUPENG earlier alleged that Dangote Refinery was forcing truck drivers to abandon its union for a rival group, the Direct Trucking Company Drivers Association (DTCDA).

The union also accused Dangote of undermining collective bargaining rights and violating a Memorandum of Understanding (MoU) signed under government supervision.

Dangote, however, denies the claims, insisting that union membership remains voluntary and that its delivery scheme is designed to cut costs and ease supply.

The federal government has intervened, with the Ministry of Labour and the Department of State Services mediating between both parties.