Nigerias inflation

Achieving 15% Inflation and Economic Diversification in 2025

By Kingsley Omose

Across Europe and North America, anti-immigrant sentiments are simmering and in some countries have broken out openly, resulting in leadership changes that are of seismic global proportions.

Following the global economic crises that attended the COVID-19 lockdown in 2020, the cost of living crises afflicted citizens and residents (legal and illegal) alike in countries that for decades had celebrated ultra-low interest rates and the piling on of credits that afforded individuals and companies.

Rather than provide the needed leadership and policies to address the challenges presented by the cost of living crises that were the direct effect of rising interest rates, far-right politicians in Europe and North America conveniently blamed this on migrant populations.

Far-right politicians are now gaining ground in the UK, France and Germany, the three biggest economies on the European continent, and while mass deportations are yet to feature openly in public discourse, policies are already being implemented in these countries that indicate what lies ahead.

In the United States on the other hand, a far-right politician will be sworn in on January 20, 2025, who was elected with the understanding that the over 12 million illegal immigrants in the country will be subjected to mass deportations from day one when he is sworn in as the US President.

The bulk of these over 12 million illegal immigrants are from Latin American countries that border the US but a good number of them also come from Sub-Saharan Africa especially Nigeria where economic hardship has driven many young people into voluntary exile.

Only time will tell whether these anti-immigrant policies being pursued by these far-right politicians will address the economic woes in their respective countries but what is clear is that the floodgates are about to burst open in the US and much later in Europe and the UK to expel illegal immigrants.

On the surface, these anti-immigrant policies appear to be targeted towards addressing economic issues, but the underlying issues appear to have racist colouration, meaning that even legal immigrants can not yet shout Uhuru.

The goal here is for subsaharan African countries especially Nigeria to begin to put in place policies and measures to allow for these returning immigrants to reintegrate back into their respective home countries as many of them will be returning with much-needed skills, capacities and resources.

The first recommendation is for the Nigerian authorities to improve the speedy issuance of temporary travel documents to Nigerians in the US, preferably online, without charging any fees. Also, Nigerians arriving in the country from the US without a Nigerian passport should be allowed entry.

Many of these returning Nigerians from the US have grown-up children who are American citizens and may want to accompany their parents or come to visit them afterwards. As long as these US citizens have passports that carry Nigerian names, they should be issued with visas on arrival at no extra cost.

The second recommendation is that officials of the Nigerian Diaspora Commission should also create an online portal to allow these returnee Nigerians to register their particulars and job experiences and skills including entrepreneurial capacities prior to arriving in Nigeria or soon after arriving to facilitate their reintegration.

A help desk should also be set up at the Nigerian Diaspora Commission to help these returnee Nigerians navigate their way through the basic steps of obtaining ID cards, NIN, Drivers Licenses, opening bank accounts, obtaining SIM cards, and such other documentation needed to hit the ground running.

The third recommendation is that some of these returnee Nigerians may require temporary accommodation until they can reconnect with family members, friends, and loved ones. Again, this falls within the scope of the Nigerian Diaspora Commission to provide temporary accommodation in much-needed cases.

The fourth recommendation is for the federal and state governments to improve the power supply, and the general security situation will go a long way towards enhancing the productivity of these returnee Nigerians. No one wants a spike in the kidnapping of returnee Nigerians to avoid the double jeopardy that entails.

The final recommendation is for the family members of these returnee Nigerians who have for decades been beneficiaries of remittances sent by their relatives in the Diaspora. A lot of understanding and support will be required to reposition these returnees. Nigerians and family members will be required to make sacrifices in this regard.

Rather than focus on the negative consequences of anti-immigrant sentiments and policies in the US and Europe, and the likely return to Nigeria of undocumented citizens based in the US, vast opportunities await these Nigerians and Nigeria as it begins to harness the immense value in return for its dispersed ones.