The Nigerians in Diaspora Commission (NiDCOM) has commended Nigerians living abroad for their contributions to the national economy, as monthly remittance inflows approach $1 billion, citing growing investments and confidence in Nigeria’s economic reforms.
It also praised the increasing investments by Nigerians in the Diaspora, noting that their financial contributions and expertise continue to support businesses, create jobs and promote national development.
In a press release issued in Abuja, the Commission’s Director of Media, Public Relations and Protocols, Abdur-Rahman Balogun, said; “the rising remittance inflows reflected the commitment of Nigerians abroad to the country’s economic growth.”
Balogun said the removal of fuel subsidy and the unification of the foreign exchange market under President Bola Tinubu were difficult but necessary decisions to address longstanding economic distortions.
“While the road taken over the last three years has not been easy, Nigeria’s external reserves, now approaching $60 billion, and rising remittance inflows are encouraging developments,” he said.
The Commission noted that beyond remittances, Nigerians abroad had continued to invest in critical sectors, including healthcare, agriculture, the food industry and information and communication technology (ICT).
According to Balogun, these investments support businesses, create employment opportunities and bring valuable expertise into the country.
The Chairperson and Chief Executive Officer of NiDCOM, Abike Dabiri-Erewa, also commended Nigerians in the Diaspora for continuing to support their families and invest in their homeland despite economic challenges.
She urged them to sustain their contributions, noting that “their remittances and investments were helping to keep businesses running, support households and create opportunities for more Nigerians.”
To encourage increased diaspora investments, NiDCOM said; “it continued to engage Nigerians abroad through initiatives such as the annual National Diaspora Day celebrations and the Nigerian Diaspora Investment Summit.”
The Commission also highlighted the recently held Nigeria Diaspora Economic Conference (NIDEC) in Canada as a platform for connecting Nigerians abroad, exploring investment opportunities and strengthening business relationships.
According to Balogun, the conference provided an opportunity for participants to discuss ways of directing more diaspora resources towards Nigeria’s economic growth.
NiDCOM reaffirmed its commitment to working with relevant stakeholders to strengthen engagement with Nigerians abroad and create a more conducive environment for diaspora investments.
The Commission expressed optimism that sustained economic reforms and greater private sector participation would encourage more Nigerians in the Diaspora to bring their skills, ideas and resources home to support national development.
