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Nigeria Diaspora Remittances Decline By 27.7% To $16.8bn, World Bank Confirms

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Remittances by Nigerians in the Diaspora declined by 27.7 per cent in 2020, the World Bank has confirmed.
A report by the World Bank titled, ‘Defying Predictions, Remittance Flows Remain Strong During Covid-19 Crisis’, said Nigeria contributed 40 per cent of the remittances into Sub-Saharan Africa.
It put remittances to Sub-Saharan Africa at $42billion. Forty per cent contribution of Nigeria to this means that remittances to Nigeria was $16.8billion in 2020.
A decline of 27.7 per cent also put remittances into the country in 2019 at $21.45billion.
The report said remittances to Sub-Saharan Africa declined by an estimated 12.5 per cent due to a decline in the remittances to Nigeria that contributes the largest amount in the region.
Nigeria has been having foreign exchange crisis resulting from decline in earnings from crude oil sale.
Diaspora remittances are the second major source of foreign exchange for the country.
Drying forex remittances recently pushed the Central Bank of Nigeria (CBN) to offer an incentive of N5 for every dollar remitted through official channels.
Differing exchange rates often push Nigerians in the Diaspora to explore alternative ways of remitting money into the country so that they can enjoy higher value.
The report stated that the decline in flows to Sub-Saharan Africa was almost entirely due to a 27.7 per cent decline in remittance flows to Nigeria.
Excluding flows to Nigeria, it stated, remittances to Sub-Saharan Africa increased by 2.3 per cent, demonstrating resilience.
Part of the report read, “Remittances to Sub-Saharan Africa declined by an estimated 12.5 per cent in 2020 to $42billion.
“The decline was almost entirely due to a 27.7 per cent decline in remittance flows to Nigeria, which alone accounted for over 40 per cent of remittance flows to the region.
“Excluding Nigeria, remittance flows to Sub-Saharan African increased by 2.3 per cent.
“Remittance growth was reported in Zambia (37 per cent), Mozambique (16 per cent), Kenya (nine per cent) and Ghana (five per cent).”
The report said, in 2021, remittance flows to the region were projected to rise by 2.6 per cent, supported by improving prospects for growth in high-income countries.
Data on remittance flows to Sub-Saharan Africa were sparse and of uneven quality, with some countries still using the outdated fourth IMF balance of payments manual, rather than the sixth, while several other countries did not report data at all, it stated.
The World Bank said that high-frequency phone surveys in some countries reported decreases in remittances for a large percentage of households even while recorded remittances reported by official sources report increased in flows.
The shift from informal to formal channels due to the closure of borders explained in part the increase in the volume of remittances recorded by central banks, it stated.
On the remittance costs for Sub-Saharan Africa, the report said it remained the most expensive region to send money to, where sending $200 costs an average of 8.2 per cent in the fourth quarter of 2020.
“Within the region, which experiences high intra-regional migration, it is expensive to send money from South Africa to Botswana (19.6 per cent), Zimbabwe (14 per cent), and to Malawi (16 per cent),” it stated.
The report said the relatively strong performance of remittance flows during the Covid-19 crisis had also highlighted the importance of timely availability of data.
Given its growing significance as a source of external financing for low and middle-income countries, there was a need for better collection of data on remittances in terms of frequency, timely reporting, and granularity by corridor and channel.
It stated that the lead author of the report on ‘migration and remittances’ and Head of KNOMAD, Dilip Ratha, said, “The resilience of remittance flows is remarkable. Remittances are helping to meet families’ increased need for livelihood support.
“They can no longer be treated as small change. The World Bank has been monitoring migration and remittance flows for nearly two decades, and we are working with governments and partners to produce timely data and make remittance flows even more productive.”
Despite Covid-19, remittance flows remained resilient in 2020, registering a smaller decline than previously projected.
Officially, recorded remittance flows to low and middle-income countries reached $540billion in 2020, just 1.6 per cent below the 2019 total of $548billion, according to the latest migration and development brief, the World Bank stated.
It said that in spite of Covid-19, remittance flows remained resilient in 2020, registering a smaller decline than previously projected.
“The decline in recorded remittance flows in 2020 was smaller than the one during the 2009 global financial crisis at 4.8 per cent.
“It was also far lower than the fall in Foreign Direct Investment (FDI) flows to low-and middle-income countries, which, excluding flows to China, fell by over 30 per cent in 2020.
“As a result, remittance flows to low- and middle-income countries surpassed the sum of FDI of $259billion and overseas development assistance of $179billion in 2020.”
The brief said that the main drivers for the steady flow included fiscal stimulus that resulted in better-than-expected economic conditions in host countries and a shift in flows from cash to digital and from informal to formal channels.
It added that cyclical movements in oil prices and currency exchange rates were also responsible.
The ‘Migration and Development Brief’, released in Washington D.C., provides updates on global trends in migration and remittances.

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WASSCE: RSG Distributes Science Materials To Secondary Schools

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The Rivers State Government has distributed science equipment and materials to all senior secondary schools across the state to support students during the ongoing West African Examinations Council exams and to strengthen practical learning.

Flagging off the distribution at the Rivers State Senior Secondary Schools Board premises in Port Harcourt, on Monday, the State Commissioner for Education, Dr. Peters Nwagor, said the move demonstrates Governor Siminalayi Fubara’s commitment to improving education standards in the State.

 Nwagor said the materials were approved and provided by the state government specifically to boost the teaching and learning of science subjects, describing science education as the foundation for technological advancement, innovation, and national development.

“No society can compete globally without deliberate investment in science and technology,” the Commissioner stated.

He commended the governor for consistently prioritising the education sector by providing tools needed for effective teaching and hands-on learning.

The Commissioner directed principals to ensure that the equipment are used strictly for practical lessons in their schools, warning that any principal or administrator found diverting, hoarding, or selling the materials wil face disciplinary action under public service regulations.

 Nwagor also warned against examination malpractice,  saying any principal found aiding or encouraging malpractices will be decisively sanctioned.

“We must collectively restore the dignity and credibility of our educational system,” he said.

Also speaking, Chairman, Rivers State Senior Secondary Schools Board, Tony Egwurugwu, urged school heads to make judicious use of the materials for students’ benefit.

He thanked the State Government for providing the resources, and assured that monitoring mechanisms would be put in place to ensure the materials serve their intended purpose.

In his own remarks,  a Board Member for Technical Education, Nwisabari Bani Samuel, expressed appreciation to the governor for prioritising education and acknowledged the Commissioner’s role in advancing education development in the State.

He  said the distribution covers all senior secondary schools in the State and is intended to improve students’ performance in both internal and external science examinations.

Akujobi Amadi

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Fubara Hails Workers’ Resilience, Dedication In Rivers …Hails Tinubu’s Economic Reform 

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Rivers State Governor, Sir Siminalayi Fubara,  has commended workers in the State for their resilience, dedication, and invaluable contributions to development in the State.

 

Fubara gave the commendation during the 2026 Workers’ Day celebration at Isaac Boro Park in Port Harcourt, last Friday.

 

Represented by his deputy, Prof. Ngozi Nma Odu, the governor noted that Workers’ Day, which originated from the struggle for an eight-hour workday in the United States, has evolved into a global event recognising the contributions of workers to national growth and development.

 

He described workers as the backbone of sustainable development, saying no society can thrive without their efforts.

 

Fubara commended Rivers workers for their loyalty and commitment to service, noting that workers play vital roles across key sectors, including education, healthcare, infrastructure and industry.

 

He noted that their contributions have enhanced access to quality education and healthcare, supported job creation, and stimulated economic activities across the State.

 

While acknowledging the economic challenges faced by many workers, including the rising cost of living, Fubara assured that the the State Government remains committed to implementing policies that will enhance workers’ welfare and overall well-being.

 

The governor also hailed the bold and daring economic reforms of President Bola Tinubu which, he said, have stabilized the economy, enhanced foreign exchange liquidity, lowered inflation, and achieved significant growth in the nation’s gross domestic product.

 

He noted that, in addition to raising the minimum wage, the President recently approved new welfare incentives for federal civil servants.

 

“Our economy is on an unstoppable positive path under our President, and it can only improve further for the nation and everyone. Let us continue supporting the policies and programmes of Mr President,” he said.

 

Fubara highlighted the importance of workers in revenue generation and governance, noting that taxes paid by workers enable government to provide security and essential social services.

 

He reaffirmed the State Government’s recognition of labour as a critical partner in achieving its development blueprint, appreciating workers’ daily contributions to building a peaceful, secure, and prosperous Rivers State.

 

The governor urged the organised labour to use the occasion to reaffirm its commitment to the progress of the State, while continuing to advocate for democracy, social justice, and improved welfare for workers.

 

He also expressed gratitude to workers for their service to the State and the nation, encouraging them to remain steadfast in their contributions to development.

 

In his address, the State Chairman of the Nigeria Labour Congress, Comrade Alex Agwanwor, commended Fubara for his steadfastness, genuine commitment, and passion for workers in the State.

 

He highlighted key achievements of the administration, including the implementation of the National Minimum Wage Act, the renovation of the State Secretariat, the reopening of the Rivers State Transport Company (RTC), and the consistent payment of end-of-year bonuses to public workers.

 

Comrade Agwanwor noted that workers, as drivers of productivity, understand the challenges involved in building a prosperous Rivers State, stressing that they are well-equipped to contribute meaningfully to the growth and development of the State.

 

“We have resolved not to continue complaining and lamenting while challenges persist. Instead, we must take the initiative, step out of relative obscurity, and rediscover the mission and destiny of our dear state,” he said.

 

 

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Fubara Pledges Support For Corporate Organisations In Rivers …Says PPP Business Model Responsible For NLNG’s Success

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Rivers State Governor, Sir Siminalayi Fubara, has pledged the  continued  support of his administration for the Nigeria Liquified Natural Gas (NLNG) Limited.

Fubara gave the assurance while receiving the new Managing Director and Chief Executive Officer of the NLNG, Mr Adeleye Falade, who paid him a courtesy visit at Government House, Port Harcourt.

He assured that his administration would continue to contribute its own quota in support of the NLNG.

According to him, the success of the organisation is equally the success of the government of Rivers State and the success of the Federal Government.

“Our duty is to make sure that we support whoever is operating in our state. We are the ones here. If we don’t support you and you don’t succeed, we also will not succeed and Mr President will also not succeed.

“So, the success of your establishment is the success of our state, and overall success of Nigeria. So you can count on our support. Wherever you think  we need to come in to support you, please do not hesitate to call upon us.

“You just mentioned here that your predecessor left a handover note showcasing the level of support that he got from the state. It is not going to be different in your own case. I can  assure you that.  I will also ensure that other units of the government will  liaise with you when necessary. So even if you can’t get to me, you can always get to them and if there is anything we can do to help your establishment succeed, we will do it for you,” he said.

The governor attributed the success of the NLNG to the Public Private Partnership ( PPP) business model adopted by the Federal Government and the multinational oil companies.

The NLNG is jointly owned by Nigerian National Petroleum Corporation (NNPC) with 49%, Shell Gas B.V. with 25.6%, Total LNG Nigeria Ltd with 15%, and Eni International with 10.4%.

The partnership model allows for shared risks, costs, and expertise in the LNG sector.

The governor noted that the NLNG has not only survived the difficult business environment but has made sustained progress in the nearly three decades of its existence.

According to him, the decision of the Federal Government to allow the multinational oil companies who have the  needed expertise to run the establishment while government plays a supervisory role over it has largely been responsible for its  success.

“I’m very proud to say that if there is one establishment that has shown resilience, that has survived in the face of all the political issues prevalent in this country, it is the NLNG. And what is the reason? The reason is very simple. Government has no business in business. That is the truth. Leave the business for those people who can operate it. Let the government play its supervisory role to ensure that there is compliance with  the laws;  ensure that standards are maintained and also ensure that the right people with the needed  expertise are at the helm of affairs. That’s all. I think that is the reason why we still record a lot of successes in NLNG,” he said.

In his opening remark, the new NLNG boss, Mr Adeleye Falade, who led other top officials of the company on the visit, expressed appreciation to the governor for granting them audience, and appealed to the State Government to continue to support the organisation.

“We appreciate the opportunity to meet with you and deepen this important relationship.We deeply value the support the Rivers State Government continues to extend in fostering an enabling operating environment for businesses. NLNG remains deliberate in its contribution to Nigeria’s development, and Rivers State, our primary host, continues to be central to that commitment,” he said.

Falade said the company has continued to work with its host communities to strengthen their  capacity to identify, prioritise, and deliver sustainable development initiatives that create lasting impact.

According to him, communities including Amadi-ama, Abua, Ekpeye, Okrika, Kalabari, and Emohua have continued to benefit from this model.

He said that beyond community infrastructure, the NLNG  has sustained investments in economic empowerment through initiatives such as Vocational Innovation and Business Empowerment Scheme (VIBES) and  Micro Small and Medium Enterprise (MSME) schemes.

These, he said, were designed  to support small businesses, build capacity, and stimulate local enterprise across the state.

Among officials of the company who accompanied the Managing Director were General Manager, External Relations and Sustainable Development, Dr Sophia Horsfall; Manager, Government Relations, Mr Abdul Umar; Manager, Community Relations, Dr. Yemi Adeyemi; Head of Government Relations, Mr Mike Igoni; Head of Community Liaison and Engagement, Chief Ifeanyi Umeh.

Others are Technical Assistant to Executive Leadership, Mr Hassan Saleh; Senior Media and Publicity Advisor, Mr Emma Nwatu; Government Relations Advisor, Miss Homa Nmegbu; Senior Government Relations Advisor, Mrs Kate Allison, and Audio -Visual Advisor, Mr Dawood Ahmed.

 

 

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