In a bid to curb the outflow of funds from Nigerians living abroad, particularly in the UK, the presidential candidate of the New Democratic Coalition (NDC), Peter Obi, has advised Nigerians to stop sending money back home. According to a report by Vanguard News, Obi made this appeal during an engagement with Nigerians in the UK, stating that they should tell those begging for money ‘no’. The NDC presidential candidate further implored Nigerians to begin by supporting leaders they consider less corrupt. ‘Let’s start with this one that is less corrupt. That’s how other countries change,’ he added. Obi’s call to action is aimed at encouraging Nigerians to invest in their country rather than supporting corrupt leaders through financial remittances. While the exact number of Nigerians living in the UK is not available, a 2021 report by the Nigerians in Diaspora Commission (NIDCOM) stated that over 1.5 million Nigerians live in the UK, making it a significant source of remittances for Nigeria. According to the World Bank, Nigeria received $26 billion in remittances in 2020, making it the sixth-highest recipient of remittances in Africa. While Obi’s call to action is a step towards curbing the outflow of funds, it remains to be seen whether Nigerians will heed his advice. The NDC presidential candidate is yet to clarify whether he intends to implement policies to discourage remittances or encourage investments in Nigeria if elected. This story is significant as it highlights the potential impact of Nigerians living abroad on the Nigerian economy and the need for policies to address this issue.
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