Nigerian Diaspora Remittances Surpass $90 Billion in Five Years, Boosting National Development
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Nigerians in the diaspora have remitted over $90 billion in the last five years, playing a crucial role in supporting national development.
The Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, made this statement at a workshop organized by the Nigerian Institute of Social and Economic Research (NISER) in collaboration with NiDCOM, held in Abuja.
Themed “A Six-Continent Survey of Nigerian Professionals in Diaspora: Policy Measures for Harnessing Contributions to National Development,” the workshop examined the significant impact of Nigerians abroad on the country’s economy.
Dabiri-Erewa emphasized the importance of data-driven policies to maximize the contributions of the Nigerian professional diaspora.
“By leveraging accurate data, NiDCOM can implement targeted policies that facilitate robust diaspora engagement, foster stronger ties with Nigeria, and maximize their invaluable contributions to national development,” she stated.
She also commended Prof. Antonia Taiye Simbine, Director-General of NISER, for leading the research on Nigerian professionals in the diaspora and called for continued collaboration between both institutions.
Unlocking Diaspora Potential for Economic Growth
Prof. Simbine highlighted that with over 17 million Nigerians living abroad, research and strategic policies are essential to effectively harness their expertise and investments.
She acknowledged NiDCOM’s commitment to diaspora engagement, stressing that their involvement remains a key driver of Nigeria’s economic growth.
Hon. Gboyega Nasir Isiaka, Chairman of the House Committee on National Planning and Economy, underscored the substantial financial contributions of the diaspora, noting that remittances have ranged between $17.2 billion and $20 billion annually in recent years.
“Nigerians in the diaspora must not be relegated to the side but participate as co-partners in developing the country,” he asserted.
Isiaka also referenced the Central Bank of Nigeria’s plan to issue a diaspora bond, urging government agencies to create structured platforms that actively engage Nigerians abroad. These platforms, he noted, would help unlock their full potential in driving economic transformation and national development.
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