NIGERIA URGES DIASPORA TO SHIFT FROM REMITTANCES TO STRUCTURED INVESTMENTS
Pan Afric Reporters
The Federal Government has called on Nigerians in the diaspora to move beyond remittances and channel their resources, expertise and global connections into structured investments that can drive Nigeria’s economic transformation.
The call was made at the maiden Nigeria-Canada Diaspora Economic Conference in Toronto, organised by the Nigerians in Diaspora Commission, NiDCOM, under the theme, “Thrive Abroad, Invest at Home.”
The conference brought together the Chief of Staff to the President, Femi Gbajabiamila, Governors of Zamfara and Anambra States, the Minister of Industry, Trade and Investment, members of the National Assembly, Canadian investors and members of the Nigerian community in Canada.
Chairman and Chief Executive Officer of NiDCOM, Abike Dabiri-Erewa, described the Nigerian diaspora as an untapped economic resource, urging Nigerians abroad not only to succeed in their host countries but to also contribute meaningfully to Nigeria’s development.
She challenged members of the diaspora to invest in at least one project back home, mentor a young Nigerian, partner with an SME or support institutions such as hospitals, schools and communities.
Dabiri-Erewa also urged participants to move from discussions to concrete investments, stressing that Nigeria is open for business and that the opportunity to invest is now.
On her part, the Minister of Industry, Trade and Investment, Jumoke Oduwole, said the government is not asking Nigerians abroad to invest in the country merely because it is their homeland, but because Nigeria presents a strong and increasingly attractive business proposition.
She said ongoing economic reforms under the Renewed Hope Agenda of President Bola Ahmed Tinubu are repositioning the economy from consumption to production, raw-material exports to value addition, and import dependence to stronger domestic production and export competitiveness.
According to her, Nigeria’s real GDP grew by 3.89 percent in the first quarter of 2026, while manufacturing grew by 3.29 percent. She added that capital importation reached 10.37 billion dollars, representing an increase of more than 83 percent year-on-year.
Oduwole said the government is seeking long-term investments in manufacturing, agro-processing, technology, logistics, energy, healthcare, infrastructure and export-oriented businesses.
The Minister also called on Canadian investors to take advantage of opportunities in Nigeria, particularly in manufacturing, agro-processing, energy, technology, healthcare, infrastructure, logistics and mineral processing.
The Governor of Zamfara State, Dauda Lawal, also challenged Nigerians in the diaspora to be more willing to take investment risks, citing the growing presence of Chinese investors in Nigeria.
Lawal disclosed that he recently visited lithium-processing factories in China and said Zamfara State had significant deposits of high-grade lithium.
He said three companies had already expressed interest in investing more than 250 million dollars in the state, adding that his administration was working to put the necessary frameworks in place to secure investments.
The Zamfara State Governor also investing in infrastructure, including an international airport, five-star hotels, hospitals and schools, to improve the state’s investment environment and provide confidence for investors.
Lawal, a former banker, assured potential investors that the state government is committed to providing the legislative, institutional and political support required to protect investments.
Meanwhile, chairman of Senate and house Committees on Diaspora described Nigerians abroad as one of the country’s greatest assets, citing their excellence, resilience, innovation and hard work.
Citing World Bank data, which they said remittances to Nigeria stood at 21.9 billion dollars, while Canada ranked fifth globally in total remittances but first in per-person contribution.
They added that an estimated 412,000 Nigerians in Canada contribute about nine percent of remittances, compared with 324,000 Nigerians in the United Kingdom contributing 12 percent and 565,000 in the United States contributing 14 percent.
They also reaffirmed the commitment of the National Assembly to developing legislative frameworks that would strengthen diaspora engagement, protect Nigerians abroad and improve the ease of doing business for diaspora investors.
The conference is expected to continue with further discussions and investment engagements, including a goodwill message from President Bola Tinubu to be delivered by his Chief of Staff, Femi Gbajabiamila.
