Tinubu Tasks Diaspora on More Remittances to Boost Economy

July 26, 2023
diaspora remittances

By Adedapo Adesanya

President Bola Ahmed Tinubu has encouraged Nigerians abroad to further boost the nation’s economy through remittances.

Speaking at the 17th annual National Diaspora Day (NDD) 2023 at the Conference Centre, Presidential Villa, Abuja, on Tuesday, the President, who was represented by Mr Femi Gbajabiamila, his Chief of Staff, said Nigerians were excelling globally and contributing immensely to the country’s development through their resources, talents, skills and global exposure.

“This, I must say, is commendable and in our enlightened self-interest as only Nigerians both at home and abroad can develop Nigeria,” he said.

He confirmed that in 2022, Diaspora home remittances through official channels stood at $ 21.9 billion, over four times the value of our Foreign Direct Investment (FDI).

“The Nigerians in the Diaspora are also actively investing in healthcare, agriculture, education, information and communication technology, housing and real estate, sports, transportation, oil and gas and other sectors,” he said.

The president also estimated Nigerians in the Diaspora at over 17 million and reiterated that the government held the Diaspora in high esteem and worked hard to uplift engagements with them.

He said parts of the engagement included the passage of the Nigerians in Diaspora Commission (NiDCOM) (Establishment) Act in 2017, its take off in 2019, and the approval and adoption of the National Diaspora Policy in 2021.

The president also commended the commission for its dynamic engagements with the diaspora community, especially with laudable programmes for Nigerians in the diaspora to invest at home.

“I believe in the years to come; these programmes will impact tremendously on our economy by catalysing our developmental efforts.

“May I, therefore, encourage you to key into these programmes for our mutual benefit.

“May I also let you know that this new democratically-elected government is a Diaspora friendly one, which will provide an enabling platform for effective policies for the Diaspora with the view to galvanising support for the new administration and concretising our democracy, setting a good example for other African countries to emulate?”

He assured that the government would address some of the challenges the commission faced to make it more effective with the diaspora for national development.

On her part, Mrs Abike Dabiri-Erewa, Chairman of NiDCOM, said the theme of the day was a summary of the entire mandate of NiDCOM.

Mrs Dabiri-Erewa said the mandate was to engage and harness the talents, skills, resources and global exposure of Nigerians in the diaspora for national development.

“Our interactions with the diaspora community during this year’s National Diaspora Day celebrations, therefore, are expected to mobilise the Diaspora to key into some of the programmes of the government and to chart improved and better ways on how to achieve the positive results for national development within the “Renewed Hope Agenda” of the government.”

The chairman urged the federal government to review the Act setting up NiDCOM to streamline its activities by setting up a sustaining funding mechanism for the commission’s activities.

She encouraged the government to support and conclude the setting up of the Nigeria Diaspora Investment Fund (NDIF) as an investment window for the Diaspora and a Diaspora Intervention Fund for emergencies involving the diaspora.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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