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Nigerians in Diaspora Remit Over $90 Billion in Five Years – NiDCOM

Nigerians living abroad have sent home more than $90 billion in the past five years to support economic growth and national development.

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

The event, themed “A Six-Continent Survey of Nigerian Professionals in Diaspora: Policy Measures for Harnessing Contributions to National Development,” focused on the role of Nigerians abroad in shaping the nation’s economy.

Dabiri-Erewa emphasized the need for accurate data on diaspora contributions, challenges, and opportunities. She stated that leveraging this information would allow NiDCOM to implement targeted policies to enhance diaspora engagement and maximize their contributions to Nigeria’s development.

She also commended Prof. Antonia Taiye Simbine, Director-General of NISER, for leading the research on Nigerian professionals abroad and expressed optimism about further collaboration between both institutions.

Prof. Simbine highlighted that with over 17 million Nigerians living overseas, the study would help formulate policies that harness their expertise and investments for national progress.

Hon. Gboyega Nasir Isiaka, Chairman of the House Committee on National Planning and Economy, pointed out that annual remittances from Nigerians abroad have ranged between $17.2 billion and $20 billion in recent years. He stressed that diaspora members should be treated as key partners in the country’s development.

Isiaka also referenced the Central Bank of Nigeria’s plan to issue a diaspora bond and urged government agencies to create platforms for effective engagement with Nigerians abroad to fully utilize their skills and financial resources.

Diaspora remittances are funds sent by individuals living abroad to their home country, often used to support family members, invest in businesses, or contribute to community projects. These funds play a crucial role in developing economies, sometimes exceeding foreign direct investment and international aid.

In December 2024, NiDCOM reported that Nigerians in the diaspora spent about N60 billion during visits to the country. Dabiri-Erewa disclosed this during the 2025 budget defense session before the National Assembly Joint Committee on Diaspora.

She also proposed the establishment of a Diaspora Plaza, a dedicated hub for engaging Nigerians abroad, and highlighted efforts to secure innovative funding strategies in collaboration with the National Assembly Committee on Diaspora to strengthen NiDCOM’s financial capacity.

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