The CEO and DG of the Nigerians in Diaspora Commission (NiDCOM), Honourable Dr. Abike Dabiri-Erewa, has emphasised that Nigeria can achieve greater stability through strategic diaspora investments.
Speaking in an interview with News Central on the second day of the 7th Nigeria Diaspora Investment Summit, Dabiri-Erewa highlighted Nigeria’s position as having one of the world’s largest and most successful people in the diaspora. She revealed that the country received a remarkable $20 billion in remittances in 2023 alone, with a total of approximately $19 billion over the past five years.
“Look, we have perhaps one of the largest diaspora anywhere in the world. We have a diaspora doing very, very well everywhere in the world, developing world economies.
“And we know that, you know, at any point in time, the diaspora, they have a critical role to play. $20 billion remittance last year, about $19 billion in the last five years. It’s not a joke.
“So beyond remittances, we’re saying let’s engage them for investments. And that’s what we’re doing. And, you know, at this point in time, when Ireland was in recession, 2,000 Irish diaspora came together and saved Ireland from recession.
She mentioned that the commission’s primary focus is fostering trust among Nigerians living abroad and encouraging them to invest in the country.
“So the first thing we are trying to build is data. Secondly, it’s trying to build the trust and then engage with them. And we came up with this. And look at them. They’re all coming to see areas they can invest and also where they can invest. They want to invest in people and also invest in the country.
She discussed the concept of reversing medical tourism, noting that over the last decade, medical professionals from the diaspora have established hospitals in Nigeria.
“And we’re seeing interest in agriculture, ICT, education, healthcare, and the food business. I can tell you that in the last few years, at least 10 diaspora medical practitioners have set up hospitals in Nigeria, you know. And gradually, they will be reversing medical tourism.
“You may not see it now, but it’s happening, you know. So ours is how do we engage and harness the enormous talents that we have in the diaspora. And for them, it’s not charity, but it is home.
“So it’s about working together. It is their home country. So invest in here. Somebody is investing in a small farm. Somebody is investing in somebody’s small business. Somebody is in California making Nigerian food and coming home to say, you know what, I want to work with our farmers because it’s their product I’m exporting.
“And they are making money, creating jobs. So it’s been tough getting here, but we’re glad that it’s growing gradually. And we continue to hope we get bigger and better and then move to states.”
Watch the clip below.
