Nigeria’s nine trillion naira annual Diaspora remittances, approximately the equivalent of the country’s annual budget, is under threat, and may significantly reduce if the current lockdown trend, especially in Occidental countries continues.
Before the last two months, Nigerians living abroad remitted on average $24.3 billion to Nigeria annually, based on a 2019 report by the Pew Research Centre, a nonpartisan American think tank based in Washington, D.C.
The United States spends about one-third of the total volume of remittances to Nigeria, followed by the UK with 20%, then Cameroon with 12% and in that order Italy with 5%, Ghana and Spain with 4% each, Germany and Benin with 3% each, Ireland, Canada, Gabon, Saudi Arabia, South Africa and Niger with close to 2% each.
However, major sources of Diaspora remittances such as the United States, the United Kingdom, Italy and a host of other countries are embarking on lockdown due to surge in coronavirus cases.
NATIONAL ECONOMY spoke to Ese Justice in Italy, an indigene of Delta State, Osas Ogbeifun in Spain, an indigene of Edo State and Bunmi Johnson in the United Kingdom, an indigene of Lagos, all of whom said they are finding it difficult to remit funds to the families back home because their sources of livelihood are being threatened by the lockdown in their cities of residence.
It may be recalled that Donald Trump of the United States, Nigerians’ biggest source of Diaspora remittance had earlier placed temporary ban Nigerians, which was the initial threat to the growing remittance source.
Nigeria’s ever-growing and highly entrepreneurial Diaspora population are slowly becoming one of the top benefactors of remittances in the world, and an important contributor to the national economy. Many families depend solely on family members abroad for basic necessities.
The largest Nigerian Diaspora community is in the US with around 400,000 followed by the UK with more than 200,000.
Nigeria is the sixth country in the world in remittance inflows. Egypt at 28.9B is in fifth place, with Mexico, The Philippines, China, and India on top.
In a related development, four more cases have been recorded in Ghana, which brings the total number of confirmed coronavirus cases to six. This was announced by the Minister for Information, Kojo Oppong Nkrumah when he addressed the media on Sunday, March 15, 2020.
The government of Ghana issued a traveling advisory yesterday as follows: “First, all travel to Ghana is at this stage strongly discouraged until further notice. Secondly, any traveler, except with Ghanaian citizenship and persons with a resident permit who within the last 14 days have been to a country that has recorded at least 200 cases of the coronavirus will not be permitted into the Ghanaian jurisdiction. Airlines are instructed not to allow such persons to embark and border posts are instructed not to allow such persons into the country.”
President Cyril Ramaphosa of South Africa yesterday addressed the nation to announce new stringent measures adopted by the Cabinet following an extensive analysis of the progression of the disease worldwide and in South Africa.
“Firstly, to limit contact between persons who may be infected and South African citizens, we are imposing a travel ban on foreign nationals from high-risk countries such as Italy, Iran, South Korea, Spain, Germany, the United States, the United Kingdom, and China as from 18 March 2020.
“Visa issuing to visitors from these countries is cancelled from today and previously granted visas are hereby revoked.
“Effective immediately, South African citizens are advised to refrain from all forms of travel to or through the European Union, United States, United Kingdom and other identified high-risk countries such as China, Iran, and South Korea,” he said.
President Ramaphosa added that the government will continue to regularly issue travel alerts referring to specific cities, countries or regions as the situation evolves based on the risk level.
South Africa has 72 ports of entry in the country which are land, sea, and airports. Of the 53 land ports, 35 will be shut down with effect from Monday 16 March. Two of the eight seaports will be closed for passengers and crew changes.
Rwanda for its part, announced Saturday it had closed all places of worship and schools following the confirmation of a positive coronavirus (COVID-19) case in the country.
A statement issued by the country’s ministry of health said even other mass gatherings should be postponed for two weeks as the situation is being monitored.
“Places of worship are closed from Sunday, March 15, 2020, with prayers to be conducted from home,” the ministry announced.
“Schools and higher education institutions (both public and private) shall close on Monday, March 16, 2020.”
The statement suggested that employees should be permitted to work from home, where possible, in consultation with their employers.
The ministry further suggested that large events such as weddings and sports be postponed and the number of people attending burial ceremonies be minimised.
“Businesses and restaurants continue to operate, but the adequate distance between customers (at least one meter) must be maintained.”
The UAE Council for Fatwa in response to the coronavirus pandemic has advised the public to as a matter of religious obligation adhere strictly to all public health directives and regulations provided by the dedicated state agencies.
It further directed that issued directives that people take all necessary measures to prevent the transmission and spread of the illness, stressing that it was impermissible according to sacred law to disregard such directives and measures under any circumstances.
“It is forbidden by shariah for anyone infected with this illness or even one thought to be at risk for infection to enter public places or go to the mosque for all congregational prayers, including Friday prayers and the Eid prayers. It is an obligation for such a person to take all necessary precautions as outlined by medical authorities, such as observing quarantine and adhering to any prescribed treatment. This is so that one does not transmit the illness to others,” the Council said.
