$26bn Annual Remittances: Rep advocates diaspora remittance agency

By Victor Oluwasegun, Abuja

The establishment of Diaspora Remittance Agency is necessary in Nigeria, the Chairperson of the House of Representatives, Rep, Akande-Sadipe has said.

Rep. Tolulope Akande-Sadipe urged for an establishment of a Unit under Nigeria Diaspora Commission that will facilitate a less costly and more efficient remittance process and documentation.

In her goodwill message during the Annual General meeting of Nigerians in Diaspora Organization Europe, held on Monday, November 16, 2020, Akande-Sadipe, who chairs House of Representatives Committee on Diaspora Affairs, posited that the establishment of a remittance arm of business will drive more remittances to the country.

In a statement by her Special Adviser, Media and Publicity, Olamilekan Olusada, the lawmaker said all hands must be on deck for concerted efforts to harness Diaspora remittances potentials towards the development of the nation.

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“Nigerians in Diaspora have been a major force for development in the country through remittances, but beyond remittances more importantly, a need for promotion of trade and investments, innovation, knowledge and technology transfers,” she said.

She opined that it is important to ascertain why the impact of recorded huge diaspora remittances is not visible in our economy, stressing that there is need to put measures in place to ensure accountability and transparency for Sustainable National Growth and Development.

The Oluyole Federal Constituency Representative said if properly harnessed, opportunities exist in Housing, Health, Education Power and Water.

Her words: “We need to re-invent and develop strategies on how to mobilise Diaspora remittances and this can be achieved by taking a cue from other countries that have succeeded at it.”

She called for development of projects, to harness the potential of diaspora remittances for poverty reduction and local economic development. “Mass Housing developments, small scale industries projects and even Diaspora bond created to achieve Sustainable Economic Growth and Development for our nation, Nigeria.

She also assured Nigerians in diaspora of the House of Representatives’ support for enfranchisement of Nigerians living in the Diaspora, adding that “we all know that the Nigerians living outside the country have as much stake in the present and future of Nigeria as those of us who live here.”

“I wish to assure our diaspora citizens of the readiness of the 9th assembly under the leadership of Rt Hon. Femi Gbajabiamilla to partner with all relevant stakeholders in formulating policies that represent Sustainable National Growth and Development,” she said.

The Lawmaker advised stakeholders to view the summit as a rare opportunity to engage with each another, exchange ideas on creating a working synergy to leverage on enormous Diaspora potentials in the areas of policies, projects and participation in the nation’s development.