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 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

States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

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.”

States
Suspended Anglican Archbishop of Akwa diocese Ibezim withdraws suit against Primate Henry Ndukuba
The cleric said the decision would pave the way for an amicable resolution of the matter.

States
Soludo seeks reopening of Awka division of appeal court
The governor commended the synergy among the three arms of government in Anambra State.

States
Police recover decomposing body of Edo motorcyclist in bush, begin probe
The command assured the public that no effort would be spared in bringing those involved in the incident to justice.

World
Disruption in air traffic control communication grounds flights across U.S.
Atlanta Airport, Washington D.C.’s Reagan Airport and Miami International Airport were some of the affected airports.

Africa
FJN mourns veteran journalist Veronica Gordon killed in ambush
Ms Gordon was a South Sudanese broadcast journalist and human rights activist.

Heading 5
NDC knocks Wike for calling Obi “lawless” over old national anthem rendition at party event
The minister said a leader who disregards national symbols, including the national anthem, cannot be trusted with the presidency.





