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Further Engagement with the Diaspora


Heaven Helps those who help themselves. This is well illustrated by how the Israeli, Chinese and Indian Diasporas have helped their countries become what they are today.

Both China and India have actively engaged their diaspora to support their economic development.
China has created an institutional and legal apparatus to court its citizens overseas. However, in order to utilize more efficiently its diaspora, it has widened the scope of its policies at the beginning of the 1990’s by including all ethnic Chinese abroad, by engaging overseas students and by trying to directly influence overseas communities.

To use its diaspora, India has also set up dedicated institutions and created incentives for overseas Indians to invest in India. It has moreover resorted to a rhetoric strategy to appeal to the wealthiest overseas Indians and bind them emotionally to the motherland.

Every day, money is earned by the millions who have left their homes to find safer or more prosperous lives in other countries. Some of these earnings are sent home as remittances to family members, resulting in a multibillion-dollar annual flow of money around the globe, contributing significant amounts to some nations' economies. That figure is growing at 15% per year. As long as there are Africans in the Diaspora remittances will keep flowing, and forex trading will continue to be a major source of income

It is estimated that the annual savings of the diasporas from developing countries total as much as $400 billion. This money represents huge, largely untapped development resources.

The Nigerian Diaspora is a major Diaspora. There is a lot of potential for the Diaspora to engage with the Nigerian Economy in a contructive manner for all sides