NEWS
Nigerians in Diaspora Contribute $20b to Country’s Economy-APC Canada
The All Progressives Congress (APC) says that Nigerians in diaspora contribute US$20 billion annually to the country’s economy, and so deserve to vote and be voted for.
The Vice Chairman of APC in Canada, Dr Abiola Oshodi, stated this while speaking to newsmen on telephone on Monday.
Oshodi explained that there was the need for diaspora voting for Nigerians outside the shores of the country because they contribute immensely to the development of their fatherland through representation.
“It is a pleasure mixed with pain, disappointments, passion for change, and patriotism.
“And it is another opportunity for me to preach again on the rights of Nigerians in diaspora to vote and even be voted for, “because we don’t deserve less
“We are ambassadors of Nigeria.
And home calls us to service, duty and patriotism. We work under cold sheets of ice to remit US$20 billion home annually.“To stress how important the diasporan contribution is to the Nigerian economy: Our nation is borrowing US$3 billion from Afrexim Bank to be repaid for years at an interest. Another US$7 billion is to be gotten from securitization of our annualized dividends from Liquified Natural Gas.
“These two interventions are meant to pay the backlogs of forex and reduce the pressure on the Naira. But irrespective of how helpful this intervention might seem, the bigger truth is that a borrower is servant to the lender,” he stated.
Oshodi said that the funds were a remittance inflow from Nigerians living in US, Canada, UK, France and other foreign countries.
“These are almost free funds. Not foreign loans. But free dollars, pounds, euros sent by Nigerians abroad to pay the school fees of relations, hospital bills of relations, set up a dialysis centre, repair old bridge constructed by the community to connect the next town.
“ US$20 billion! Huge funds. Big money. Yet freely given to Nigerian banks, and Central Bank of Nigeria (CBN) for onward transmission to aid local businesses and even service our foreign debts.
“And US$20 billion is a fraction of the potential that we could do. In 2022, India remitted home US$111 billion, Philippines sent US$39 billion, and Egypt remitted US$28 billion.
“The difference between Nigeria and these three countries is that their nationalities abroad are permitted to vote and participate effectively in their political processes.
“If only we would be recognized and encouraged to participate in our elections, we too would contribute so much to the sustainability of our country,” he said.
The APC Vice Chairman, who commended the Nigerian Senate Majority Leader, Sen. Opeyemi Bamidele, for sponsoring the Diaspora Voting Bill, said that it was high time Nigerians in diaspora were given a stake on the conference table, adding that “we deserve to be equal partners just like other stakeholders.”
According to him, “there are about 15 million Nigerians, made up of doctors, engineers, educators, entrepreneurs, artists, and professionals of all kinds, living outside the country.
“If Nigerians abroad were classified as a state, it would be the largest state in the country. Our voting strength would be higher than Kano and it would eclipse Lagos.
“Why should this important bloc be excluded from the political process? Who knows, maybe there is fear that our number could tilt established voting trend and change things since it obviously would be tougher to buy a Canadian-Nigerian consultant and other professionals with a bag of rice.”
Oshodi, a Canadian-Nigerian consultant psychiatrist, described Nigerians abroad as a patriotic stock, a polished breed and well travelled folks, saying it will be wise to draft diasporans who were used to living according to their means into participation in the political process of the country.
The APC chieftain said acquired cultures from saner climes, where laws are feared and obeyed, could impact more on the orientation of the average Nigerian to be better citizens if only Nigerians in diaspora would be permitted.
Oshodi asked the Nigerian legislature to provide a nationwide legal infrastructure within the Electoral Act for overseas voting.
“Our constitution and laws must be reworked to accommodate the innovation. Of course the path towards Diaspora Voting is fraught with challenges, including logistical, legal, and administrative hurdles.
“However, these challenges are not insurmountable. We must work collectively to overcome them,” he said. (NAN)
Niger Government has established the state Price Control and Monitoring Board, approved by Gov. Umaru Bago to ensure fair pricing and consumer protection.
Alh. Abubakar Usman, Secretary to the Niger Government (SSG), inaugurated members of the board on Thursday in Minna.
The eight-member board has Alh.
Hussaini Ahmed, a former Permanent Secretary as the chairman.Usman noted that the inauguration of the board marked a significant step in the state’s commitment to ensuring fair pricing and consumer protection.
He said that the board was expected to control and stabilise prices of essential commodities and eradicate or reduce to the barest minimum, hoarding of essential commodities across the state.
He said that board would also handle issues that may arise as a result of enforcement and penalty for contravention of guidelines among several others.
“The board will be responsible for the distribution, monitoring and evaluation of essential commodities and keep price under continuous surveillance.
“They will also interpret price movement and relate them to other development in the State’s economy,” Usman said.
He said the board was expected to interface with relevant stakeholders such as local government chairmen, traditional institutions and councilors and well as market organisations to ensure the success of their mandate.
The SSG enjoined members of board to bring their wealth of experience and expertise in economics, consumer affairs and market dynamics to bear in their assignment.
He said that their appointment underscored the government’s dedication to maintaining economic stability and safeguarding the interests of both consumers and businesses in the state.
In his remarks, the board chairman, Ahmed, assured that the board would interface with relevant stakeholders within and outside the state in order to bring succour to the populace.
Other members of the board include Hamza Bello, Permanent Secretary, Investment, Aliyu Abubakar, Permanent Secretary, Local Government and Chieftaincy Affairs and Garba Abdullahi, from Ministry of Basic Education.
Also on the board are Adamu Maikasuwa, Ministry of Agriculture, DCP Aminu Garba, Nigeria Police, Niger Command, Aminu Ladan, Chairman, Chanchaga Local Government Area and Usman Liman, retired Statistician-General as Secretary of the Board. (NAN)
The Federal Accounts Allocation Committee (FAAC), has shared N1.298 trillion among the Federal Government, states, and the Local Government Councils (LGCs) for September.
This is according to a communique issued at the end of FAAC meeting for October held on Thursday in Abuja.
The communiqué was made available to newsmen by Bawa Mokwa, the Director, Press and Public Relations, Office of the Auditor-General of the Federation (OAGF).
According to the communiqué, N1.
298 trillion total distributable revenue comprised distributable statutory revenue of N124.716 billion, and distributable Value Added Tax (VAT) revenue of N543.518 billion.It also comprised Electronic Money Transfer Levy (EMTL) revenue of N18.
445 billion, Exchange Difference revenue of N462.191 billion and Augmentation of N150.000 billion.It said that a total revenue of N2.258 trillion was available in the month of September.
“Total deduction for cost of collection was N80.993 billion, while total transfers, interventions and refunds was N878.946 billion,” it said.
According to the communiqué, gross statutory revenue of N1.043 trillion was received in September 2024, which was lower than the sum of N1.221 trillion received in August by N177.426 billion.
It said that gross revenue of N583.675 billion was available from VAT in September, higher than the N573.341 billion available in the month of August by N10.334 billion.
“From the N1.298 trillion total distributable revenue, the Federal Government received a total sum of N424.867 billion, and the state governments received a total sum of N453.724 billion.
“The LGCs received a total sum of N329.864 billion and a total sum of N90.415 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue,” it said.
On the N124.716 billion statutory revenue, the communiqué said that the Federal Government received N43.037 billion and the state governments received N21.829 billion, while the LGCs received N16.829 billion.
It said that the sum of N43.021 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
“From the N543.518 billion VAT revenue, the Federal Government received N81.528 billion, the state governments received N271.759 billion and the LGCs received N190.231 billion,” it said.
It said that in September, Oil and Gas Royalty, Excise Duty, EMTL and CET Levies increased considerably while VAT and Import Duty increased marginally.
It added that Petroleum Profit Tax (PPT), Companies Income Tax (CIT) and others recorded significant decreases. (NAN)
The Lagos State Traffic Management Authority (LASTMA) has reiterated the importance of strict adherence to traffic laws, emphasising the prohibition of commercial motorcycles on highways and other restricted routes.
Mr Olalekan Bakare-Oki, the General Manager, said this in a statement on Thursday, signed by Mr Taofiq Adebayo, Director, Public Affairs and Enlightenment Department, LASTMA.
Bakare-Oki said that non-compliance with the regulations not only jeopardised the safety of the riders but also endangered the lives of other road users.
The statement came following the death of a motorcycle rider going against traffic on Carter Bridge, due to a collision with a fast-moving vehicle.
Bakare-Oki noted that the deceased, reportedly traveling from Ebute Ero, collided head-on with a fast-moving vehicle as it ascended Carter Bridge from Ilubirin.
“The forceful impact of the collision led to the immediate death of the motorcyclist while the vehicle driver ran away.
“Personnel from the LASTMA promptly arrived at the scene of the accident and swiftly alerted officers from the Central Police Station at Adeniji Adele and Shemo.
“Together, they coordinated efforts to retrieve the lifeless body of the rider, while LASTMA officials handed over the motorcycle to security authorities for further investigation,” he said.
The LASTMA boss extended his heartfelt sympathy to the family of the deceased.
“LASTMA remains committed to upholding public safety and is intensifying its efforts to minimise the occurrence of such tragic incidents on Lagos roads,” he said. (NAN)
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