Nigerians abroad remit $90 billion in 5 years-NiDCOM

Nigerians in the Diaspora have remitted over $90 billion to their home country in the past five years.

These remittances, which include cash, intellectual property, and goods, have made a significant impact on Nigeria’s economy.

Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, disclosed this during a Sensitisation and Advocacy Programme aimed at promoting Diaspora investment potential in the North-East, held in Bauchi.

Represented by the Secretary of the Commission, Dr Sule Yakubu Bassi, Dabiri-Erewa stated that the contributions demonstrate the vast potential for Diaspora investments in Nigeria.

She emphasised that the North-East region, with its abundant human and natural resources, could become a key investment hub if Nigerians in the Diaspora channel their investments into the area.

In an address, Bauchi State Governor Bala Mohammed, highlighted policies aimed at attracting both local and foreign investors to include tax holidays for new businesses and a “one-stop shop” initiative designed to provide swift responses to investor needs.

Governor Mohammed, represented by the Commissioner for Budget, Economic Planning, and Multilateral Coordination, Amina Katagum, noted that these measures reflect his administration’s commitment to creating an enabling environment for investment in the state.

Speaking on behalf of the North-East Focal Point Officers, Alhaji Modu who urged Nigerians in the Diaspora to contribute to the region’s development through remittances and investments, suggested Public-Private Partnerships (PPP) and other legal investment channels as viable options.

The event, organised by NiDCOM in collaboration with Stage-By-Stage Project Limited and the Bauchi State Government, featured paper presentations and panel discussions by resource persons.