Diaspora remittances hit over $90 billion in five years— NiDCOM  

The Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM). Hon. Abike Dabiri-Erewa stated this at a workshop organized by the Nigerian Institute of Social and Economic Research (NISER) in collaboration with NiDCOM, held in Abuja.

The workshop was themed “A Six-Continent Survey of Nigerian Professionals in Diaspora: Policy Measures for Harnessing Contributions to National Development,” and it explored the role of Nigerians abroad in shaping the country’s economy.

“Nigerians in the Diaspora have remitted about $90Billion dollars in the last five years to shore up the economy for National Development,” she noted. 

Dabiri-Erewa emphasized the importance of gathering accurate data to better understand the contributions, challenges, and opportunities within the Nigerian professional diaspora.

“By leveraging the derived data, NiDCOM can implement targeted policies that facilitate robust diaspora engagement, foster stronger ties with Nigeria, and maximise their invaluable contributions to national development.” 

She praised Prof. Antonia Taiye Simbine, Director-General of NISER, for leading the research on Nigerian professionals in the diaspora and looked forward to more collaboration between both institutions.

Prof. Antonia Taiye Simbine, Director-General of the Nigerian Institute of Social and Economic Research (NISER), explained that with over 17 million Nigerians living abroad, the research would lay the groundwork for strategic policies that utilize diaspora expertise and investments.

“Nigerians in the diaspora must not be relegated to the side but participate as co-partners in developing the country,” he said.

Isiaka referenced the Central Bank of Nigeria’s plan to issue a diaspora bond and urged government agencies to establish platforms that encourage effective engagement with Nigerians abroad to fully harness their expertise and investments.

Diaspora remittances refer to money sent by individuals living abroad to their home country, usually to support family members, invest in businesses, or contribute to community development.

Dabiri-Erewa proposed the establishment of a Diaspora Plaza, a dedicated hub for engaging Nigerians living abroad and also highlighted ongoing efforts to secure innovative funding strategies with the National Assembly Committee on Diaspora to boost the commission’s financial capacity.