A Professor of Migrations, Refugee and Diaspora Studies at the Department of History and International Studies, Faculty of Arts, Lagos State University, Olawale Iskil Lawal has asked the Federal Government to strongly consider setting up a legal framework for establishment of a scheme with the aim of utilizing the annual huge Diaspora Remittance from Nigerians working abroad to fund electricity, roads construction, health, education and housing amongst other critical sectors of the economy
The latest World Bank statistics in 2024 placed Nigeria second behind Egypt in terms of African countries with Diaspora Remittance while Central Bank of Nigeria put the total amount received during the same period at $22 billion, a meteoric rise from $5.66 billion in 2010
The Don delivering the university's 110th inaugural lecture titled " The Triage of Human Migrations in Nigeria on Tuesday inside the Buba Marwa Main Auditorium on Ojo campus, listed some of the African countries using the such alternative model to fund critical economic infrastructure to Ethiopia and Morocco
"It is my strong view that Nigeria has the capability to harness Diaspora Remittance to tackle some of her developmental and infrastructural challenges in order of Electricity, Road constructions and repairs , Health, Education and Housing with the code name DR ERHEH scheme. This scheme is expected to raise diaspora bonds of measurable target without any derogation, whether exigencies or planned and design policy that will require an outstanding collaboration between the set of stakeholders and the identitied sectors ", he proposed
The inaugural lecturer says the issuance of operational license to private investors to generate power is not achieving the desired objective as the country is still battling with generating 4,000 mega watts , which is just one third of its required 13,000 mega watts, with many industries and big churches establishing independent power plants to meet their electricity needs
Prof. Lawal emphasized the need for government to establish a specialized agency with Nigeria in Diaspora Commission (NiDCOM) providing the needed platform for seed take off of such agency for proper utilization of Diaspora Remittance fund , devoid of the usual beauracracy of government's Ministries, Department and Agencies
"Diaspora Remittance can only thrive in an atmosphere of neutrality and impartiality and even the NiDCOM should only coordinate and not involve in actual execution of capital projects", he maintained
The university's don also suggested how government could raise diaspora bonds of measurable targets for the proposed scheme to fund critical economic infrastructure
High Skilled migrants from diaspora population in the United States, United Kingdom, Saudi Arabia, German, Italy, Spain and Canada according to him, can be target for remitters sourcing
He urged government to strengthen the existing agencies to source for accurate data on Diaspora Remittance, saying Direct Foreign Investment (DFI) is rated higher because of its strong data base with the CBN
To get adequate data, he recommended that government should collaborate with agencies including Nigeria Immigration Service, Ministry of Foreign Affairs, Nigerian National Volunteer Service, National Bureau of Statistics, National Population Commission, National Agency for the Prohibition of Traffic in Persons , Federal Ministry of Labour and Productivity, Remittances Record of National Population Commission, The Nigerian in Diaspora Organization as well as Nigerians in Diaspora Commission and Central Bank of Nigeria
Prof. Lawal also suggested that the proposed Diaspora Remittance Scheme should identify which among the capital projects in Electricity, Roads construction, Health, Education and Housing sectors to be implemented based on availability of financial resources
Vice-Chancellor of the university, Prof. Ibiyemi Olatunji-Bello who chaired the inaugural lecture, lauded Prof. Lawal for his immeasurable contributions to success of Nigerians in diaspora and LASU community in particular
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