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Showing posts from May, 2019

Nigeria: Becoming a human capital export nation

BY   DAYO OROLU The recent revelation by Mr Ike Chioke, the Group CEO of Afrinvest Ltd, on the high-level remittances from Nigerians in the Diaspora to the Country as compared with actual export proceeds from Oil and Gas operations has brought to the fore the potential of Nigeria becoming a human capital nation rather than oil and gas. Mr Chioke asserted in his presentation that Nigeria earned $25bn in 2018 from Diaspora remittances compared with $18bn from gross crude oil and gas sales. It is an unassailable fact, quite frankly! The statistics has generated interesting debates just at a time the nation is witnessing high emigration of skilled Nigerians to Europe and North America. Medical Doctors, Accountants, Engineers and best of Nigeria’s labour force are moving out of the Country in droves in search of greener pasture. It is therefore a relief of sort when the social media was washed with the revelation regarding the diaspora remittances. Maybe it’s not an entirely bad si