Nigerians abroad remit over $25bn annually – Buhari

President Muhammadu Buhari says Nigerians in the diaspora brought over $25 billion annually as home remittances to the Nigerian economy through official and non-formal channels over the past three years. 

Buhari spoke in a video message to commemorate this year’s Diaspora Day observed on July 25 of every year. 

The president, who urged to them not to abandon their fatherland in the wake of the COVID-19 pandemic, implored Nigerians in the diaspora to actively participate in the country’s post-COVID-19 economic recovery efforts. 

“This (home remittances) is about 6.0% of our annual GDP and upwards of 80% of our annual budget. 

“This has impacted on livelihoods of Nigerians in terms of education, health, housing and estate development, industry, trade and investments, agriculture and technology/skills transfer. 

“In terms of diaspora home remittances, Nigeria is rated as number one in sub-Saharan Africa and this is still growing especially with the advocacy and mobilization programmes of the newly established Nigerians in Diaspora Commission (NiDCOM),’’ he said in a statement issued by his spokesman, Femi Adesina.