The Federal Government has said it will create investment products and opportunities in a bid to boost remittances from Nigerians living abroad.
The Minister of Finance, Mrs. Kemi Adeosun, stated this on Monday at the 2016 Diaspora Conference in Abuja, according to a statement signed by her Special Adviser on Media, Mr. Festus Akanbi.
She called on Nigerians in the Diaspora to see the current economic realities in the country as good opportunities for them to participate actively in the ongoing efforts to reposition the economy.
Adeosun said, “Remittances are a key part of our national income and this point to the strong family ties that form the fabric of Nigeria’s society, and this we must not lose sight of.
“As emigrant remittances are very stable, it is important that they are channelled into where they are most needed; we will create investment products and opportunities that will encourage and incentivise you to remit funds. These include our planned infrastructure bonds and social housing funds.”
She urged Nigerians living abroad to support their families back home with positive investments that would have long-term impact as well as day-to-day income support.
The minister said, “Supporting families to become self-sufficient will reduce dependency in the long term. Government is looking at how we can facilitate this structural support with a number of initiatives.
“We must never become so comfortable abroad that we forget or, worse still, despise our roots. Rebuilding Nigeria is an important mission for the next generation, who deserves the chance of a Nigeria that provides opportunities for them.”
Speaking on measures being put in place to ensure the safety of remittances to beneficiaries in the country, Adeosun said improved mechanisms had been put in place to continue to ensure that funds reached their intended recipients.
These measures, according to her, include a combination of the introduction of a more flexible exchange rate, improved technology and e-payments systems, which are being advocated for use in the Federal Government’s recently introduced Social Welfare Programme.