While the minister has commenced a sensitization tour of major
cities in the world with high concentration of Nigerians to convince them on
increased remittances, the Federal Inland Revenue ( FIRS), the nation's tax
agency yesterday met with stakeholders on measures to increase its non-oil tax
revenue. The Federal Government has concluded plans to float a Diaspora bond
for Nigerians living abroad through which medium the minister believes the
Nigerians over there can meaningfully contribute to the economic development of
the country, by investing in critical infrastructure development with high
yielding returns potential. The appetite to pursue Diasporan investment has
been buoyed following the realization of a huge inflow of income from
remittances. According to the Finance Minister, a whopping $20.7 billion was
harvested in 2013 while in the first half of this year, more than $10 .40
billion has equally been recorded. This account was contained in a statement by
the Minister's Special Adviser on Communication, Paul Nwabiukwu on the
Minister's trip traversing the world in hot chase for remittances. The
statement explained that the mission was "in response to the long-standing
desire of the Nigerian diaspora to support economic development in the country,
a high level Executive-Legislative team is currently holding a series of
interactive sessions with Nigerians in Europe and the United States. The
sessions are organized by the Debt Management Office, led by its Director-General,
Dr. Abraham Nwankwo.
Guardian Newspaper
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