Nigerians in Diaspora Crucial to Nation’s Economy, Says Tinubu
President Bola Ahmed Tinubu has highlighted the crucial role Nigerians in the Diaspora play in supporting the nation’s economy.
This is even as he expressed excitement at diaspora remittances reaching a record-breaking $20.93 billion in 2024.
Represented by the Secretary to the Government of the Federation, Senator George Akume, CON, the President spoke on Friday while declaring open the 2025 National Diaspora Day celebrations held at the Banquet Hall, Presidential Villa, Abuja.
President Tinubu said the staggering amount is more than four times the value of the country’s Foreign Direct Investment (FDI), solidifying diaspora remittances as a vital source of foreign exchange for Nigeria.
Tinubu said this substantial influx of funds highlights the crucial role Nigerians abroad play in supporting the nation’s economy.
He said the theme of the celebration, “Optimizing Formidable Diaspora Potentials for National Development and Growth,” aims to consolidate efforts towards diaspora engagement and national development.
His words: “It is also gratifying to note that we have annually on July 25th celebrated the achievements of our Diaspora, many of whom are our Ambassadors at large uplifting the image of Nigeria in their host countries, excelling globally, breaking barriers and contributing immensely to Nigeria’s development through their talents, skills, resources, global exposure and networks.
“Last year, 2024, our Diaspora Home Remittances through official channels stood at $20.93b, which is over four times the value of our Foreign Direct Investment (FDI).
“The Nigerians in the Diaspora are also actively investing in our Healthcare, Agriculture, Education, Information and Communication Technology (ICT), Housing and Real Estate, Sports, Transportation, Oil and Gas and other sectors. This I must say is commendable and in our enlightened self-interest as only Nigerians both at home and abroad can develop Nigeria”.
According to him, the Nigerian government holds the Diaspora community in high esteem, stressing that it has worked to uplift engagements with them through various initiatives, including the establishment of the Nigerians in Diaspora Commission (NiDCOM) and the National Diaspora Policy.
Tinubu commended the Diaspora community for their record-breaking remittances, assuring that government is committed to providing an enabling platform for effective policies.
“Let me also remind you again that this democratically elected government is a Diaspora-friendly one. Our Renewed Hope Foreign Policy recognizes the Diaspora as the fourth pillar in the 4D Agenda viz Democracy, Demography, Development and Diaspora. We will continue to provide an enabling platform for effective policies for the Diaspora with the view to galvanizing your support for this administration and concretizing our democracy, optimizing your potentials and setting a good example for other African countries to emulate,” he added.
The President promised to address the challenges faced by NiDCOM and harvest the benefits of migration through diaspora engagement.
He also applauded the Chairman/CEO of NiDCOM, Hon. Abike Dabiri-Erewa, for her dynamic initiatives, even as he encouraged the Diaspora community to key into the commission’s programmes.