Friday, June 9, 2023

Diaspora remittances to Africa now more than foreign direct investment: Ghanaian Govt

Ghanaian Minister of Interior Ambrose Dery has urged African leaders to pay more attention to African migrants as more money comes through them than FDI.

• October 13, 2021

Ghanaian Minister of Interior Ambrose Dery has urged African leaders to pay more attention to African migrants as more money comes through them than foreign direct investment (FDI).

Quoting available statistics, he said with remittances by migrants now outweighing FDI, migration issues should be prioritised such that its advantages “are harnessed while curbing its limitations.

“Migration, as we are aware, has assumed an important role in the global agenda due to its prospects for social and economic development and has gained recognition from policymakers and leaders of nations,” said Mr Dery. “In Ghana, for instance, the contribution of migrants has played a great role in shaping our national development over the years. We cannot gloss over the numerous benefit of migration.”

The Ghanaian minister added, “For example, the flow of migrant remittances into African countries is now projected to outweigh the foreign direct investment and official domestic assistance. The complex migration dynamics confronting member states mean that in addition to the benefit of migration, there are also challenges.”

On Tuesday, he stated this, stakeholders in the West African sub-region met to review the priorities on ensuring safe, orderly, and regular migration as enshrined in the Global Compact for Migration.

Representatives from the International Organisation (IOM), African Union (AU), and the Economic Community of West African States (ECOWAS), who topped the list of stakeholders, are holding a three-day consultation on the implementation of the global compact.

The global compact is the first inter-governmentally negotiated agreement, prepared under the auspices of the United Nations, covering all dimensions of international migration in a holistic and comprehensive manner.

This is coming even as all member states agree that migration is very cardinal to the economic development of the sub-region, with foreign remittances by migrants said to now outweigh FDI.

He pointed out that specific migration challenges included the movement of people from rural areas to urban centres resulting in rapid urbanisation.

Mr Dery also stated that the growing trend in trafficking, smuggling of migrants, and abuse of migrants’ rights were also challenges.

Speaking, Nigeria’s Minister of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Umar, represented by Fatima Azi, NAPTIP’s director-general, said, “We have a rich diaspora base whose social and economic remittances assist the government in achieving the desired development goals.”

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Fulgence Kayishema

Africa

Rwandan genocide suspect faces fraud, immigration charges in South Africa

Ex-police officer Fulgence Kayishema is wanted internationally for his suspected participation in Rwanda’s 1994 genocide.

President Bola Tinubu and fuel pump

Politics

Finance commissioners advise Tinubu to put all subsidy accruals in federation account

Nigeria’s finance commissioner has called on President Bola Tinubu’s government to ensure all accruals from the fuel subsidy removal go to the federation account.

Akwa Ibom Speaker Udeme Otong

Politics

Udeme Otong emerges 8th Akwa Ibom Assembly Speaker

Mr Otong, a two-term lawmaker, emerged after securing 20 votes to defeat his only contender, Ukpong Akpabio, who scored six votes.

The National Population Commission (NPC)

NationWide

2023 census ‘ll be devoid of political interference, vows commissioner

The census, earlier billed for between May 3 and May 7, was postponed due to the federal government’s transition programme.

Allied Peoples Movement (APM)

Politics

Tribunal fixes June 19 to commence APM’s petition against Tinubu’s victory

The Allied Peoples Movement (APM) is challenging the February 25 election victory of President Bola Tinubu and Vice-President Kashim Shettima of the All Progressives Congress (APC).

Justin Welby, Gays in Uganda

Faith

Archbishop of Canterbury urges Ugandan Anglicans to reject anti-gay law

Under the law, gay sex is punishable by life in prison while “aggravated homosexuality”, including transmitting HIV, attracts the death penalty.