Nigerian Diaspora Remittances Surpass $90 Billion in Five Years, NiDCOM Reports

In a significant announcement, Abike Dabiri-Erewa, the Chairman of the Nigerians in Diaspora Commission (NiDCOM), revealed that remittances from Nigerians abroad have surpassed $90 billion over the past five years. This figure underscores the crucial role of the diaspora in Nigeria's economy, particularly as they spent around ₦60 billion during their visits in December 2024 alone. Dabiri-Erewa made these remarks while defending NiDCOM's 2025 budget before the National Assembly Joint Committee on Diaspora.

Dabiri-Erewa emphasized the transformative potential of the diaspora, stating, “We’ve reached a stage where the diaspora has proven to be a powerful resource, and we cannot ignore them. They are the number one ambassadors of our country.” She highlighted that Nigerians living abroad have become vital contributors to national development, noting that their remittances could grow further as "we are just scratching the surface."

During her address, she praised President Bola Tinubu for implementing reforms aimed at improving Nigeria's security and infrastructure, urging support for these initiatives. She remarked, “In fact, all over the world, everyone now wants to have a Nigerian as a friend. Let’s seize this moment. We can take over the world, and we will.”

Dabiri-Erewa also discussed her December meetings with young Nigerians eager to invest in local businesses and technology training initiatives. She proposed establishing a Diaspora Plaza to facilitate connections between Nigerians abroad and local opportunities. This plaza would serve as a hub for engagement with government officials and provide insights into investment prospects.

Senator Victor Umeh echoed these sentiments, emphasizing the need for accurate data on Nigerians abroad to facilitate future voting rights. He stated, “Once we have reliable data, we can allow diaspora voting. But we need to be confident in our systems first.” This reflects a broader commitment among lawmakers to enhance NiDCOM's capabilities and support its initiatives aimed at strengthening ties with the diaspora community.