Diaspora remittances to Nigeria could grow to $25.5 billion, $29.8 billion and $34.8 billion in 2019, 2021 and 2023, PricewaterhouseCoopers (PwC) Limited has said In its latest White Paper Series titled: Strength from Abroad: The Economic Power of Nigeria’s Diaspora, it said over a 15-year period, it expects total remittance flows to the country to grow by almost double in size from $18.37 billion in 2009 to $34.89 billion in 2023.
Partner & Chief Economist at PwC, Dr. Andrew S. Nevin, said the report was an analysis, which showed the critical importance of the Diaspora to Nigeria’s economy.
According to him, the Nigerians in Diaspora Commission (NiDCOM) led by Abike Dabiri-Erewa, indicated that the Federal Government recognised the strategic importance of the Nigerian diaspora.
Nevin, however, said the key next step for the newly established Commission was to formulate and execute a strategy to maximise the benefits of Nigeria’s Diaspora. “In addition, we’re very keen to see state governments start to engage the Diaspora. The primary benefit of remittances to recipient households is the improvement in their general welfare,” the chief economist said.