* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 3, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

    Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

    Toni Braxton Is Turning Her Biggest Hits Into Lifetime Movies – Yahoo

    Toni Braxton Is Turning Her Biggest Hits Into Lifetime Movies – Yahoo

    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

    Good Deed Entertainment Lands Global Rights to Liza Mandelup’s Captivating Documentary ‘Caterpillar

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

    Inside China’s Tech Expo: Cutting-Edge Innovations Face Uncertain Demand

    Steampunk Metal Oval Technology Sense Sunglasses Personality Handmade Chain Multicolor Sunglasses UV400 – The San Joaquin Valley Sun

    Steampunk Metal Oval Sunglasses with Handmade Multicolor Chain – Bold UV400 Protection and Unique Style

    STELLA Automotive AI Appoints Fred Seidelman as Chief Technology Officer – Yahoo Finance

    STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Four Strategic Signals Technology Leaders Are Tuning In To – SPONSOR CONTENT FROM ARM – Harvard Business Review

    Four Essential Strategic Signals Every Technology Leader Should Watch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

    Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

    Toni Braxton Is Turning Her Biggest Hits Into Lifetime Movies – Yahoo

    Toni Braxton Is Turning Her Biggest Hits Into Lifetime Movies – Yahoo

    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

    Good Deed Entertainment Lands Global Rights to Liza Mandelup’s Captivating Documentary ‘Caterpillar

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

    Inside China’s Tech Expo: Cutting-Edge Innovations Face Uncertain Demand

    Steampunk Metal Oval Technology Sense Sunglasses Personality Handmade Chain Multicolor Sunglasses UV400 – The San Joaquin Valley Sun

    Steampunk Metal Oval Sunglasses with Handmade Multicolor Chain – Bold UV400 Protection and Unique Style

    STELLA Automotive AI Appoints Fred Seidelman as Chief Technology Officer – Yahoo Finance

    STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

    Four Strategic Signals Technology Leaders Are Tuning In To – SPONSOR CONTENT FROM ARM – Harvard Business Review

    Four Essential Strategic Signals Every Technology Leader Should Watch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Some comments on remittances, FDI and diaspora entrepreneurship

June 25, 2024
in Business
Some comments on remittances, FDI and diaspora entrepreneurship
Share on FacebookShare on Twitter

While much of the reform agenda in the country has been focused on the economy, we need to consider whether we have an appropriate structure to attract more direct foreign exchange remittances. For the purposes of this discussion today, our outlook is drawn from our ongoing research and has broader relevance to how future policy formulation can promote and support diaspora contributions.

We often tend to think that foreign direct investments (FDI) bring numerous benefits, including capital, technology, expertise, and jobs, all of which contribute to the overall development and modernization of the economy. However, FDI is not as stable and resilient as foreign exchange remittances. Think of foreign exchange remittances as money transfers from Nigerians based outside of the country to family members or individuals within the country.

Not only are remittances more stable and predictable compared to FDI, which can be volatile and influenced by global economic conditions and investor confidence, but they also serve as a lifeline for development and now represent the largest source of foreign income for many developing countries. Among other things, remittances directly support household income by lifting families out of poverty and providing funds for basic needs such as food, housing, and education.

To us, this raises a very clear question: What does the data say about remittances to Nigeria?

Let us start by acknowledging that it is difficult to estimate the exact data on remittance flows as many occur through unofficial channels. However, remittances to Sub-Saharan Africa in 2023 increased by $54 billion, with Nigeria alone accounting for 38 percent of the region’s total. This trend is supported by 2024 data on remittances. In the first quarter (Q1) of 2024, data released by the Central Bank indicated that the Nigerian economy received $282.61 million in total direct foreign exchange (FX) remittances. More recent data on the economy indicate that remittances flowing into Nigeria have surpassed the amount of foreign direct investment in recent years. In our view, we believe this gap will continue to widen.

Now let us turn to a segment of the diaspora community that we believe plays a role in accelerating diaspora remittances. If you accept the narrative we have presented, one must ask: How do diaspora entrepreneurs contribute to shaping the economy?

Though hard to precisely measure, one vital fact about diaspora entrepreneurs is that they play a significant role in shaping both the Nigerian economy and that of their host country. To get some indication of how their impact has evolved over time, let us pause here to explain why they are a real-world proxy for driving economic growth.

As we have argued more extensively elsewhere, it is likely not news to many that much of their progress is evident through remittances to families, which drive new businesses and job creation. Some of what we know is that these remittances serve as lifelines for supporting families, employment, and economic activities in Nigeria. This typically means these remittances finance education, health, and small businesses to create a cycle of growth and development. Their philanthropic activities further support community development, enhancing education, healthcare, and infrastructure.

In fairness, while the achievements of many diaspora entrepreneurs are reflected in their support of the economy, there is much policymakers can do to support and promote the cross-fertilisation of ideas and productivity gains that diaspora ideas can bring.

Let us provide a few examples: Diaspora entrepreneurs have started businesses such as Calendly, a software company that develops a business communication platform used for team scheduling; Kibo, an online university providing quality STEM degrees to African students; and Global Infrastructure Partners (GIP), founded by Ogunlesi. GIP invested worldwide in infrastructure assets across the energy, water, transport, and waste industry sectors until its recent sale to Blackrock in a $12.5 billion deal.

Our goal, therefore, should be to develop—and continually harness—the economic potential of diaspora entrepreneurs through a clear and sensible policy framework. One that simplifies business registration and offers tax incentives can attract them to start new ventures in Nigeria. The best way to do this is by establishing special funding programmes and low-interest loans that are receptive to diaspora entrepreneurs so they can build the necessary capital, while creating diaspora investment funds that can channel resources into local startups. There is more that can be done to accomplish this.

Closing thoughts:

While we should expand opportunities for diaspora entrepreneurs to contribute, policymakers can facilitate training programmes and establish mentorship networks to help local entrepreneurs gain valuable skills and knowledge from their overseas counterparts. We should also ensure clear property rights and improve security to build confidence among investors, making it safer for diaspora entrepreneurs to invest their remittances in local projects. Balancing the launch of recognition programmes for successful diaspora entrepreneurs, which can promote them as role models and inspire others to contribute, with prioritising incentives for skilled Nigerians abroad to return home, can enhance the local talent pool and further boost the economic benefits of remittances. Furthermore, developing special economic zones with modern facilities can create hubs of economic activity.

The hope is that we can adopt a more receptive tone to welcome diaspora contributions in a way that enables a more innovative, efficient, and effective approach for the future.

Bekee Bariture is a doctoral research student at the University of the West of Scotland, while King Omeihe is the Chair of African Studies at the British Academy of Management and a Senior Lecturer at the University of the West of Scotland.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Businessday.ng – https://businessday.ng/opinion/article/some-comments-on-remittances-fdi-and-diaspora-entrepreneurship/

Tags: businesscommentsremittances
Previous Post

President Tinubu and Nigeria’s rising global profile

Next Post

The winning formula for African businesses

Bhagwat rings ‘warning bell’ on Himalayas, ecology threats – Times of India

Bhagwat rings ‘warning bell’ on Himalayas, ecology threats – Times of India

October 3, 2025
117-Year-Old Woman’s Diet Could Help Us All Live Longer – ScienceAlert

117-Year-Old Woman’s Diet Could Help Us All Live Longer – ScienceAlert

October 3, 2025
The Best Time to Eat Breakfast, Backed by Science—and Why It Matters More Than You Think – Real Simple

The Ideal Time to Eat Breakfast: Surprising Science-Backed Reasons Why It Matters

October 3, 2025
Lifestyle and stress erode heart health advantage in long-term US immigrants – News-Medical

Lifestyle and stress erode heart health advantage in long-term US immigrants – News-Medical

October 3, 2025
Artificial Intelligence Technology Solutions Deploys RIO Security Solutions – TipRanks

Artificial Intelligence Technology Solutions Unveils Game-Changing RIO Security Innovations

October 3, 2025
Top-12 NFL running games: Which teams are helping our RBs score fantasy football points this season? – Yahoo Sports

Top-12 NFL running games: Which teams are helping our RBs score fantasy football points this season? – Yahoo Sports

October 3, 2025
FIRST LOOK: Official match ball of FIFA World Cup ‘26 – Yahoo Sports

Get an Exclusive First Look at the Official Match Ball of FIFA World Cup 2026!

October 3, 2025
Arts economy grows, but funding lags on Long Island – Long Island Business News

Long Island’s Arts Economy Thrives Despite Ongoing Funding Challenges

October 3, 2025
Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

October 3, 2025
HIV pioneer Dr. William Valenti retires, leaving lasting impact on health community – 13wham.com

HIV Pioneer Dr. William Valenti Retires, Leaving an Enduring Impact on the Health Community

October 3, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (849)
  • Economy (869)
  • Entertainment (21,743)
  • General (17,386)
  • Health (9,912)
  • Lifestyle (882)
  • News (22,149)
  • People (871)
  • Politics (880)
  • Science (16,080)
  • Sports (21,370)
  • Technology (15,852)
  • World (852)

Recent News

Bhagwat rings ‘warning bell’ on Himalayas, ecology threats – Times of India

Bhagwat rings ‘warning bell’ on Himalayas, ecology threats – Times of India

October 3, 2025
117-Year-Old Woman’s Diet Could Help Us All Live Longer – ScienceAlert

117-Year-Old Woman’s Diet Could Help Us All Live Longer – ScienceAlert

October 3, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version