Nigeria’s Vice President, Kashim Shettima, has reaffirmed that the country’s economic transformation will be powered by a stronger partnership with Nigerians in the diaspora, describing them as “a vital force in our national development journey.”
Speaking through Ambassador Dunuma Umar at the 8th Nigerians in Diaspora Investment Summit (NDIS) held on Wednesday at the State House Conference Centre, Presidential Villa, Abuja, the Vice President said the Tinubu administration was determined to create the right environment for diaspora-led investment, innovation, and job creation.
He praised the summit’s evolution over the years, describing it as a “wildfire of enterprise and progress,” and commended the Nigerians in Diaspora Commission (NiDCOM) and the Nigeria Diaspora Summit Initiative (NDSI) for their dedication to connecting Nigerians abroad with opportunities at home.
“The NDIS platform aligns perfectly with our national objectives — to attract investment, create jobs, and develop human capital,” Shettima said. “Our prosperity will come faster when the public sector, private sector, and our global diaspora work together in unity of purpose.”
This year’s theme, “Fast-Tracking Regional and National Development by Mobilising Diaspora Investment,” reflects what the administration calls a central pillar of its Renewed Hope Agenda — harnessing Nigeria’s global human capital for sustainable development.
Building a Conducive Environment for Diaspora Investment
Shettima outlined several initiatives aimed at boosting investor confidence, including the Home and Abroad Housing Platform, which enables Nigerians overseas to safely invest in real estate, and plans for a Diaspora Bond to finance major infrastructure projects.
He also noted reforms such as the Non-Resident BVN and improved foreign exchange policies, which have helped boost remittance inflows — estimated at $21 billion in 2024 — sustaining millions of households.
Highlighting the government’s massive infrastructure drive, he disclosed that over ₦4.2 trillion had been approved for road and bridge projects, ₦1.3 trillion to strengthen the power grid, and 90,000 kilometres of fibre optic cable laid to deepen digital connectivity.
“These are not mere promises; they are proof that Nigeria is moving forward. But government cannot do it alone. We need synergy — between our infrastructure, our MSMEs, and our diaspora investment — for progress to be unstoppable.”
A Movement, Not Just a Summit
The Chairperson of the Local Organising Committee, Dr. Badewa Adejugbe-Williams, described NDIS as a growing movement uniting Nigerians at home and abroad behind a shared goal of national renewal.
She called for stronger collaboration among government, MSMEs, and diaspora investors, urging all parties to turn dialogue into action.
“A single hand cannot lift a load to the head.When every stakeholder plays their part — the diaspora, local entrepreneurs, and government — progress will come faster and endure longer”, she stated.
Dr. Adejugbe-Williams encouraged entrepreneurs to demonstrate innovation and integrity, noting that partnerships forged at the summit could redefine Nigeria’s image as both “investment-ready and innovation-driven.”
NiDCOM Chair Urges Diaspora to Move Beyond Remittances
For Hon. Abike Dabiri-Erewa, Chairman/CEO of NiDCOM, the summit represents the growing maturity of diaspora engagement in Nigeria’s development story. She noted that Nigerians abroad remitted over $25 billion in 2024, making Nigeria the largest remittance recipient in Africa.
However, she said the time had come to look beyond remittances and focus on strategic investments that deliver lasting impact.
“Our diaspora represents a $1 trillion GDP community of over 17 million Nigerians,” she said. “Their networks, skills, and resources can accelerate growth in infrastructure, technology, healthcare, and renewable energy”, she enumerated.
Dabiri-Erewa urged government at all levels to strengthen investor protection, ensure policy consistency, and build trust that encourages long-term engagement.
IOM Reaffirms Global Support for Nigeria’s Diaspora Agenda
The International Organization for Migration (IOM) also pledged continued partnership with Nigeria to advance diaspora-driven development.
Speaking at the event, Ms. Sharon Dimanche, IOM Chief of Mission in Nigeria, commended the government for institutionalising diaspora engagement through NiDCOM, the National Diaspora Policy, and emerging state-level diaspora offices.
She noted that global remittance flows hit $860 billion in 2024, with Africa receiving nearly $100 billion, underscoring the power of diaspora communities to transform economies.
“Beyond remittances, diasporas bring knowledge, skills, and global networks — resources that are priceless in today’s interconnected world,” Dimanche said.
Through EU-supported programmes, IOM is partnering with NiDCOM to pilot Diaspora Investment and Innovation Partnerships in Cross River, Abia, and Lagos States, linking diaspora funds to sustainable local projects.
She proposed three priorities to maximise impact: ensuring policy transparency, diversifying investment instruments such as diaspora bonds and funds, and empowering local governments to attract and manage diaspora capital.
“The Nigerian diaspora is one of the nation’s most strategic assets,” Dimanche stressed. “Harnessed effectively, this network can help achieve Vision 2050, the SDGs, and the aspirations of Agenda 2063.”
A Shared Vision for Progress
The 8th NDIS Summit ended on a note of renewed optimism — with government officials, investors, and international partners agreeing that Nigeria’s global citizens hold the key to unlocking the country’s next phase of growth.
Conclusively,Ambassador Umar said “Nigeria is ready for innovation — and this government stands ready to partner with our diaspora and our entrepreneurs to build a nation that truly works for all.”