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Diaspora Investments Can Rise To $50bn, Says Rewane

The economist also charged the Federal Government to work on building the confidence of the people, investors, consumers as well as manufacturers.


Bismarck Rewane is the Chief Executive Officer of Financial Derivatives Company Limited, Mr Bismarck.

 

The Chief Executive Officer of Financial Derivatives Company Limited, Mr Bismarck Rewane is optimistic that the remittances from Nigerians living abroad can rise to over $23 billion.

Speaking during an interview on Channels Television’s 2023 Democracy Day programme, Rewane said diaspora Nigerians are coming back to seek the yield on their investments.

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“The Nigerian diaspora flow which is currently about $23 billion can actually go as high as $50 billion and can make up for the shortfall in the visible flows because they are coming back to seek the yield on their investments,” he stated on Monday.

The economist also charged the Federal Government to work on building the confidence of the people, investors, consumers as well as manufacturers.

According to him, there is a trust deficit as “nobody believes the government.”

On the way forward, he wants leaders at all levels to “sequence our actions first before promises of what do to.”

Rewane wants the government to deliver to the people on its promises.