Parrot Reporters
No Result
View All Result
  • Home
  • Top Stories
  • News
  • Politics
  • Business
  • Economy
  • World News
  • Diaspora
  • Other Features
    • Crime
    • Entertainment
    • Tourism
    • Interviews
    • Editorials
    • Opinion
Parrot Reporters

NIGERIA’S ECONOMY CAN’T SURVIVE WITHOUT DIASPORA INPUTS, SAYS PWC CHIEF ECONOMIST

Reporter by Reporter
February 27, 2020
0
NIGERIA’S ECONOMY CAN’T SURVIVE WITHOUT DIASPORA INPUTS, SAYS PWC CHIEF ECONOMIST

Dr Andrew Nevin

Share on FacebookShare on TwitterShare on Whatsapp
Nigerians in Diaspora have been described as the chief enablers financing the Nigerian economy. The remittance inflows into the country showed that the nation depends largely on them to survive.
This disclosure was made by the Leader and Chief Economist of PwC, Dr Andrew Nevin. While speaking during his presentation at the Africa Institute for Leadership and Public Administration (AILPA) seminar, Nevin said Nigeria was the largest recipient of remittance flows to Sub-Saharan Africa (SSA) in 2018.
With migrant remittance to the country rising by 14%, after a brief decline in 2016, from $22 billion in 2017 to over $25 billion in 2018, Nevin explained that the value of migrant remittances in 2018 represented 6.1% of Nigeria’s GDP, 11 times the FDI inflows, and 7.4 times larger than the foreign aid received in 2017.
Nevin further explained that the remittance inflow is not slowing down any sooner, as it is projected to increase to over $29 billion by 2023 undisturbed by the rising migrant population of Nigerians and the declining cost of sending money home. Occasioned by the activities of fintechs.

More News...

From Gatekeepers Son To Philanthropist

From Gatekeepers Son To Philanthropist

GOV. SANWO-OLU PARLEYS APC STAKEHOLDERS

GOV. SANWO-OLU PARLEYS APC STAKEHOLDERS

Ademuyiwa Adebola Launches Inspaya Academy, A New Hub for Digital and Creative Empowerment in Africa

Ademuyiwa Adebola Launches Inspaya Academy, A New Hub for Digital and Creative Empowerment in Africa

President Julius Maada Bio of Sierra Leone Elected New ECOWAS Chairman, Succeeds President Bola Tinubu

President Julius Maada Bio of Sierra Leone Elected New ECOWAS Chairman, Succeeds President Bola Tinubu

Reflections on Naira-for-Crude By Abiodun Komolafe

Reflections on Naira-for-Crude By Abiodun Komolafe

FAVOUR OFILI DUMPS NIGERIA FOR TURKEY AFTER YEARS OF FEDERATION MISHANDLING

FAVOUR OFILI DUMPS NIGERIA FOR TURKEY AFTER YEARS OF FEDERATION MISHANDLING

Corruption: The Greatest Enemy of Development

How Nigeria’s Insecurity Problem Can Be Solved By Bola Babarinde 

How Nigeria’s Insecurity Problem Can Be Solved By Bola Babarinde 

About Us

Parrot Reporters is an independent and non-partisan news platform with special focus on Nigerians in Diaspora cum news within and outside the shore of Nigeria.


Our aim is to celebrate the exploits of Nigerians in diaspora particularly in Southern Africa and other parts of the world.

Categories

  • Business
  • Comic
  • Cover Stories
  • Crime
  • Economy
  • Editorials
  • Entertainment
  • Health
  • Interviews
  • Nigerians In Diaspora
  • Opinion
  • Other News
  • Politics
  • Sports
  • Tourism
  • Videos
  • World News

Follow Us

COPYRIGHT © Parrot Reporters
No Result
View All Result
  • Browse
    • Sports

© Parrot Reporters