Nigerians Living Abroad Remit $35bn in 11 Months

Abike Dabiru

The Senior Special Assistant to the President on Foreign Affairs and Diaspora Matters, Mrs. Abike Dabiri-Erewa, on Tuesday said between January and now, over $35bn had been remitted to the country by Nigerians living abroad, according to Investor King.

Dabiri-Erewa disclosed this when she visited the Executive Chairman of the Federal Inland Revenue Service, Mr. Babatunde Fowler, and the management team of the FIRS in Abuja.

She said the amount so far remitted to the country by Nigerians living abroad this year exceeded the $21bn sent home by them last year.

The $35bn remittance, according to her, is the highest so far recorded in Africa this year and the third highest in the world.

“In 2016, they (Nigerians living abroad) remitted $35bn, which is higher than what was remitted in 2015. This is the highest in Africa and the third largest in the world,” she stated.

Dabiri-Erewa drew the attention of the FIRS management to tax concerns raised by Nigerians living abroad, adding that this might frustrate the objective of the government in encouraging them to invest back home.

She said, “There is a lot of talk about your organisation from Nigerians in the Diaspora concerning taxes; whether there will be tax incentives for Nigerians coming back home to engage in agriculture and other businesses.

“Recently, they expressed concern over reports that we need to pay tax on our passports. There should be collaboration between both offices to disseminate information in case they have questions or want answers.”