Abike Dabiri-Erewa, Chairperson of the Nigerians in Diaspora Commission (NIDCOM), has revealed that Nigerians abroad have remitted over $90 billion to the country in the last five years. During her presentation at the 2024 budget performance review and 2025 budget defence before the National Assembly’s Joint Committee on Diaspora, she highlighted the significant impact of the diaspora on Nigeria’s economy.
Thank you for reading this post, don't forget to subscribe!In December 2024 alone, Nigerians visiting from abroad spent an estimated ₦60 billion, further underscoring their economic influence. Dabiri-Erewa described this expenditure as a reflection of the diaspora community’s increasing commitment to Nigeria’s development.
Diaspora as Economic Drivers
• Estimated Nigerians Abroad: 17 million
• Five-Year Remittances: Over $90 billion
• December 2024 Spending: ₦60 billion
Dabiri-Erewa applauded Nigerians in the diaspora for their contributions to nation-building, particularly their growing interest in investments, entrepreneurship, and digital technology training. She stated, “The diaspora community is a formidable force that cannot be ignored. They are our ambassadors, reshaping Nigeria’s global narrative.”
NIDCOM’s Initiatives and Future Plans
• Diaspora Plaza: Plans to establish a hub for engagement between Nigerians abroad and government officials to explore economic opportunities.
• Economic Documentation: Developing a formal report on the diaspora’s contributions to better quantify and appreciate their impact.
• Funding Strategies: Partnering with the National Assembly to enhance the Commission’s capacity through innovative funding models.
Dabiri-Erewa attributed the December 2024 diaspora influx to consistent engagement and outreach efforts. She hosted many visitors personally, noting their enthusiasm for investing in local businesses and supporting community-based initiatives.
Broader Economic Impact
With diaspora remittances boosting Nigeria’s foreign reserves and significant spending during visits, Dabiri-Erewa emphasized the need for stronger collaboration to harness the diaspora’s potential fully. She remarked, “What we need now is to document their efforts and amplify their contributions to Nigeria’s progress.”
This disclosure highlights the growing importance of Nigerians abroad in driving economic growth and reshaping global perceptions of the country.
