NIGERIA RECORDS \$20.93bn IN DIASPORA REMITTANCES IN 2024 — TINUBU.

By Ohworisi Elohor.

President Bola Tinubu disclosed that home remittances from Nigerians in the diaspora reached \$20.93 billion in 2024, a figure four times higher than the country’s Foreign Direct Investment (FDI) within the same period.

This announcement was made during the 2025 National Diaspora Day celebration and National Merit Award ceremony organised by the Nigerians in Diaspora Commission (NiDCOM) on Friday in Abuja. The event was themed “Optimising Formidable Diaspora Potentials for National Development and Growth.”

The president, who was represented by the Secretary to the Government of the Federation, Senator George Akume, highlighted the significance of diaspora contributions to Nigeria’s economic growth. He commended NiDCOM’s initiatives, including the National Diaspora Day celebrations, National Diaspora Merit Award, Nigeria Diaspora Investment Summit, Diaspora Mortgage Scheme, and the Diaspora Data Mapping project.

He noted that presidential engagements with the Nigerian diaspora had become customary during official foreign trips, further strengthening ties with citizens abroad.

“It has been encouraging to annually celebrate the achievements of our diaspora community every July 25th. These individuals continue to uplift Nigeria’s image globally and act as our unofficial ambassadors,” he said.

According to the president, Nigerians abroad have been actively involved in various sectors including healthcare, agriculture, ICT, education, real estate, sports, transportation, and the oil and gas industry. He described their efforts as commendable and critical to national development.

Tinubu also praised NiDCOM for introducing the National Diaspora Merit Award in 2023, which has added greater significance to the annual celebration.

Earlier in her remarks, the Chairman/CEO of NiDCOM, Mrs. Abike Dabiri-Erewa, stated that National Diaspora Day was set aside to honour over 20 million Nigerians living abroad who contribute significantly to national development. She described them as resilient, patriotic, and highly productive, adding that they continue to break barriers and lead in various sectors globally.

She further noted that since the establishment of NiDCOM over six years ago, the commission had consistently delivered impactful programmes. She referenced the successful hosting of the NDD Merit Awards, which recognises individuals and groups making meaningful contributions both in Nigeria and in their countries of residence.

Dabiri-Erewa also mentioned the annual *Badagry Door of Return Festival*, celebrated in October, which symbolises the return of descendants of enslaved Nigerians and highlights the historical importance of Badagry.

In her goodwill message, the Chief of Mission for the International Organization for Migration (IOM) in Nigeria, Ms. Sharon Dimanche, applauded NiDCOM for its work in mobilising diaspora engagement. She described the Nigerian diaspora as a driving force for inclusive and sustainable development.

Quoting World Bank data, she revealed that in 2024, global remittances reached \$905 billion, with Sub-Saharan Africa receiving \$56 billion. Nigeria alone accounted for \$20.93 billion of this figure — an 8.9 percent increase from the previous year, according to the Central Bank of Nigeria.

Dimanche emphasised that while remittances play a crucial role in supporting households, education, healthcare, and livelihoods, the diaspora’s influence extended beyond financial contributions. Nigerian professionals across fields such as health, technology, education, finance, arts, and public service were said to be transforming institutions globally while retaining strong connections to their homeland.

She described the younger diaspora population as digitally skilled, innovative, and globally connected, with the capacity to drive entrepreneurship, civic engagement, and technological progress in Nigeria.