Diaspora Remittances into the Nigerian economy stood at a staggering ₦60 billion during the 2024 festive season. This substantial contribution underscores the crucial role of the Nigerian diaspora in bolstering the nation’s economy.
Abike Dabiri-Erewa, Chairman of the Nigerians in Diaspora Commission (NIDCOM) during the 2025 budget defence session before the National Assembly Joint Committee on Diaspora in attributed this significant influx of funds to the commission’s consistent efforts to engage with the Nigerian diaspora.
“This December, of course, you know, it is not less than N60 billion in what they spent coming to Nigeria. It could grow, but it is just scratching the surface,” she stated.
Remittances from Nigerians abroad over the past five years have exceeded a remarkable $90 billion, according to NIDCOM.
“We have 17 million Nigerians in Diaspora. And how much did this generate for the growth of the economy? Remittances alone in the last five years have been over $90 billion,” Dabiri-Erewa emphasized.
Recognizing the immense potential of this vital segment of the Nigerian population, NIDCOM has proposed the establishment of a “Diaspora Plaza.” This dedicated hub would serve as a central point for Nigerians abroad to connect with government officials, explore investment opportunities within the country, and engage with the Nigerian landscape.
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Furthermore, NIDCOM is actively seeking innovative funding strategies in collaboration with the National Assembly Committee on Diaspora to enhance the commission’s capacity to effectively engage and support the diaspora.
While the economic contributions of diaspora remittances are undeniable, the issue of diaspora voting remains a subject of contention. Sen. Victor Umeh, Chairman of the Senate Committee on Diaspora, expressed concerns about Nigeria’s preparedness for such a significant undertaking.
“We must tell ourselves the truth, we must get properly organized before we open up to people voting from outside Nigeria. Let us manage our own elections at home first, before we add diaspora voting,” Sen. Umeh cautioned.
“If you are not prepared with your data that is reliable, you can finish all the elections in Nigeria, and you say, I am waiting for votes that will come from America. Somebody will throw three million votes from there, or from Asia, and before you know it, the courts will not have peace.”
Sen. Umeh also stressed the critical need for increased funding for NIDCOM, recognizing its pivotal role in fostering meaningful engagement with the diaspora.
“In the 2024 appropriation, the provisions were very poor. The National Assembly worked hard to add something to their budget. This year again, we have seen how they operated last year under difficult circumstances, and again, we are going to make moves for them, and we will call on Mr. President to pay particular attention to the diaspora community,” he stated.
Despite the challenges, NIDCOM Chairman Dabiri-Erewa remains optimistic about the future.
“You know, we have reached a stage where in the last five years, we have shown that the diaspora is a powerful force and resource we cannot ignore,” she affirmed.
“And, you know, they are the number one ambassadors of our country. They will help us change the narrative of our country.”
Dabiri-Erewa concluded by expressing her confidence in the transformative potential of President Bola Tinubu’s reforms, emphasizing their ability to propel Nigeria towards a brighter future.
