Abuja: President Bola Tinubu has said that diaspora home remittances through official channels totalled $20.93 billion in 2024, which is four times the value of Nigeria’s Foreign Direct Investment (FDI).
Tinubu made this statement at the National Diaspora Day (NDD) celebrations and the National Merit Award 2025, organised by the Nigerians in the Diaspora Commission (NiDCOM) on Friday in Abuja.
The theme of the celebration was “Optimising Formidable Diaspora Potentials for National Development and Growth”.
The President was represented by Sen. George Akume, Secretary to the Government of the Federation.
He lauded the creation of NiDCOM’s flagship programmes, including the NDD celebrations, National Diaspora Merit Award, Nigeria Diaspora Investment Summit, Diaspora Mortgage Scheme, and Diaspora Data Mapping project.
According to him, it has become a practice to hold fellowship sessions with Nigerians in the diaspora during the presidential diaspora town-hall meetings, which take place during official presidential trips outside the country.
“It is gratifying to note that we have celebrated the achievements of our diaspora annually on July 25th, many of whom are our Ambassadors at large, uplifting the image of Nigeria in their host countries.
“Nigerians in the diaspora are also actively investing in our healthcare, agriculture, education, Information and Communication Technology (ICT), housing and real estate, sports, transportation, oil and gas and other sectors.
“This is commendable and in our enlightened self-interest as only Nigerians, both at home and abroad, can develop Nigeria,” he said.
He also stated that the NDD celebration has taken on a new dimension with the inclusion of the national Diaspora Merit Award by NiDCOM since 2023.
Speaking earlier, Mrs Abike Dabiri-Erewa, Chairman/CEO of NiDCOM, said the NDD was set aside to recognise and acknowledge the over 20 million Nigerians in the diaspora who are contributing immensely to national development.
“Our Diaspora is known for hard work, resilience, patriotism, and they are highly productive. They are also barrier breakers and pacesetters in their different fields of endeavour.
“It, therefore, behoves us to celebrate our very best, not minding that a few do fall below standard.
“Since its establishment over six years ago, NiDCOM has had so much to celebrate; this is because the legacy team has sustained the passion and consistency that saw to the establishment of the commission,” she said.
Dabiri-Erewa said that the commission had successfully hosted the NDD merit awards, where notable individuals and associations that have contributed to the development of the country and their host countries were recognised and honoured.
“Badagry door of return festival is celebrated in October yearly; to commemorate the Nigerian descendants from the slave trade era and the significance of the ancient city of Badagry during that period,” she said.
Ms Sharon Dimanche, Chief of Mission, International Organisation for Migration (IOM) Nigeria, commended NiDCOM for the organisation and success stories in the past years.
Dimanche said that it underscored the unique role of the Nigerian diaspora as a catalyst for inclusive and sustainable development.
According to her, the Nigerian diaspora has consistently demonstrated resilience, innovation, and a strong sense of patriotism.
According to the World Bank, in 2024, global official remittances totalled $905 billion, with Sub-Saharan Africa receiving $56 billion.
“Of this, Nigeria recorded a significant inflow of 20.93 billion dollars, an 8.9 per cent increase from the previous year, as reported by the Central Bank of Nigeria.
“These remittances serve as a vital economic buffer, supporting households, education, healthcare, and livelihoods across the country,” she said.
She, however, said that the diaspora’s impact transcended remittances,
“Nigerian professionals in health, technology, education, arts, finance, and public administration are transforming institutions globally while maintaining deep ties to their homeland.
“This transnational connection represents an untapped wealth of knowledge, skills, and networks critical to national transformation.
“The youth in the diaspora, innovative, digitally savvy and globally connected, hold enormous potential to drive entrepreneurship, civic participation, and technological advancement in Nigeria,” she said.
