Diaspora remittances reach $90bn in five years – Dabiri-Erewa

The Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, has revealed that Nigerians living abroad have sent approximately $90 billion home over the past five years, significantly boosting the nation’s economy.

Speaking at a stakeholders’ workshop organized by the Nigerian Institute of Social and Economic Research (NISER) in collaboration with NiDCOM in Abuja, Dabiri-Erewa emphasized the importance of reliable data in understanding the contributions, challenges, and opportunities within the Nigerian diaspora.

The workshop, themed “A Six-Continent Survey of Nigerian Professionals in the Diaspora: Policy Measures for Harnessing Contributions to National Development,” aimed to explore strategies for maximizing the impact of diaspora engagement.

According to Dabiri-Erewa, leveraging accurate data will help NiDCOM formulate policies that strengthen ties between Nigeria and its diaspora community, ensuring their contributions are effectively harnessed for national development.

She commended NISER’s Director-General, Prof. Antonia Taiye Simbine, for spearheading the initiative and expressed optimism about further collaborations between the two institutions.

Prof. Simbine highlighted the need to move beyond remittances and encourage broader diaspora participation in Nigeria’s development.

She noted that with over 17 million Nigerians living abroad, insights from the study would serve as a foundation for policies that tap into their expertise and investments.

Representing the Minister of Foreign Affairs, Amb. Bolaji Akinremi, Director of Economic Trade and Investment, described Nigeria’s diaspora population as one of the most influential globally.

He stated that the workshop was a crucial platform for aligning diaspora engagement strategies with national goals and global best practices.

Hon. Tochukwu Okere, Chairman of the House Committee on Diaspora, described the study as a groundbreaking initiative, expressing confidence that its findings would strengthen Nigeria’s relationship with its citizens abroad.

Similarly, Hon. Gboyega Nasir Isiaka, Chairman of the House Committee on National Planning and Economy, acknowledged the diaspora’s significant contribution to the economy, with remittances ranging between $17.2 billion and $20 billion annually.

He stressed the importance of involving Nigerians abroad as key stakeholders in the country’s development.

Isiaka also referenced the Central Bank of Nigeria’s plan to issue a diaspora bond, urging Ministries, Departments, and Agencies (MDAs) to create effective engagement platforms for diaspora members to invest their expertise and resources in Nigeria.

He further called for increased government support and funding for NiDCOM and NISER to ensure diaspora investments and research-backed policies translate into tangible development.

In his remarks, Mr. Pramod Kumar Agrawal, a representative of the Indian High Commission to Nigeria, pointed out that Nigeria ranks among the highest recipients of remittances globally.

Drawing from India’s experience with over 35 million citizens in the diaspora, he stressed the need for Nigeria to adopt deliberate strategies to strengthen engagement with its global citizens.

The workshop brought together government officials, policymakers, researchers, private sector representatives, and Nigerian professionals abroad to discuss actionable strategies for enhancing Nigeria’s socio-economic development through diaspora engagement.

This maiden edition aims to build a stronger global network of Nigerian professionals and optimize their contributions to national progress.