Nigeria’s Diaspora Remittances Exceed $90bn In Five Years

Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom - Politics - Nairaland

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Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by adamusuleiman1(op): 3:25pm On Jan 17, 2025

The Chairman of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, has disclosed that remittances from the diaspora have surpassed $90 billion in the past five years.

She noted that in December 2024 alone, remittances amounted to no less than N60bn, adding that there is potential for further growth in the future, highlighting the diaspora’s significant role in Nigeria’s development.

Dabiri-Erewa made these remarks on Thursday during her defence of the commission’s 2025 budget before the National Assembly Joint Committee on Diaspora.

She also urged Nigerians living abroad to help improve the country’s image, stressing that people globally now desire to have Nigerians as friends.

Dabiri-Erewa stated, “We’ve reached a stage where the diaspora has proven to be a powerful resource, and we cannot ignore them. They are the number one ambassadors of our country. They will help us change the narrative of Nigeria. In fact, all over the world, everyone now wants to have a Nigerian as a friend. Let’s seize this moment. We can take over the world, and we will.”

She praised President Bola Tinubu for implementing reforms to tackle insecurity, build infrastructure, and make Nigeria a better place, urging widespread support for these changes.

“We have 17 million Nigerians abroad. How much has this contributed to the growth of the economy? In the last five years, remittances alone have exceeded $90 billion. In December, the amount spent coming to Nigeria was not less than N60 billion. This could grow, but we are just scratching the surface,” she added.

In December 2024, the Central Bank of Nigeria reported that diaspora remittances processed through International Money Transfer Operators reached $4.22bn between January and October 2024. This figure nearly doubles the $2.62bn recorded during the same period in 2023.

The NiDCOM Chairman also reflected on her December 2024 meetings with several diaspora Nigerians interested in business and human development, emphasising the abundance of future opportunities.

https://punchng.com/nigerias-diaspora-remittances-exceed-90bn-in-five-years-nidcom/

4 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by kuntash: 3:41pm On Jan 17, 2025

hmm..

I have always said it, if not for the diaspora remittances, with the rate of cashing some persons are doing in govt, the country would have otilo long long ago , even with oil.

India is taking advantage of such remittances to build their country and also harnessing same to supply human resources to the world.

meanwhile, am I the FTC on this ? cheesy

14 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by motionarena: 3:41pm On Jan 17, 2025

Who dey chop d money

1 Like

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by ednut1(m): 3:42pm On Jan 17, 2025

My money dey inside grin

. Last year the number of people reaching out for money doubled. Tinubulation at work

14 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by Whyme24(m): 3:42pm On Jan 17, 2025

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by Firstcitizen: 3:43pm On Jan 17, 2025*

Japa is doing good for Nigeria. The indian government understands that human resource export is a top source of inflow into the country and regularly engages the UK government to formulate policies to favour Indian migrants.

In Nigeria, the story is different, the government will frustrate, blackmail and create policies to frustrate those that wish to emigrate. The citizens are not even better. Those that are already there will paint stories of woes and hardship but will not remember to return. Those that cannot make it and never been there will do even worse.

A lot of houses being sold In Nigeria now are targeted at diasporans. The impact of the annual influx of Nigerians during the yelutide season on the economy is huge and still not tapped to full potential.Only 1 house purchased by a diasporan has provided employment for several artisans, block manufacturers etc, they will eat and also buy food from the cassava farmer in Osun state, Then pay their rent which the landlord in Oshodi uses to cater for his family. This oils the wheel of the economy.

A wise government will create incentives for the tourism and hospitality sector but in Nigeria, they will demolish the infrastructure of these businesses to create coastal roads that can be channeled through alternative routes. A wise government will make passport issuance a seamless and easy process but they will frustrate you till you give up.

As I type this, one government official is thinking of a way to tax remittances aside the electronic deposit charge collected through banks. Always thinking of how to discourage and spoil things. That is what we are good at.

8 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by Wealthoptulent(m): 3:43pm On Jan 17, 2025

adamusuleiman1:
https://punchng.com/nigerias-diaspora-remittances-exceed-90bn-in-five-years-nidcom/

owo Mugun

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by adexbols(m): 3:44pm On Jan 17, 2025

Win win

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by koxi(m): 3:45pm On Jan 17, 2025

…and yet, THEY do everything possible to frustrate and discourage us from coming back home to invest and develop.

6 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by SpatialKing(m): 3:46pm On Jan 17, 2025

Yet

Tinubu's government and APC frustrating people that want to Japa

5 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by saddler: 3:49pm On Jan 17, 2025

Japa is a blessing in disguise to Nigeria.

6 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by Angelfrost(m): 3:49pm On Jan 17, 2025

Okay... So, how does that really push Nigeria towards economic greatness?!!

We need serious Investments and industrial growth.

These won't happen in the face of insecurity, high costs of living, and poor electricity supply.

Instead of bragging about diasporans splurging money during Festive periods, I would love to hear that those based abroad are returning to invest and set up thriving businesses in their numbers, with a subsequent decrease in unemployment.

9 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by kuntash: 3:49pm On Jan 17, 2025

SpatialKing:
Yet

Tinubu's government and APC frustrating people that want to Japa

not even that, those monies must be taxed and scout for those who remits them and make them pay certain fees on each transfer.

2 Likes 1 Share

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by xpressionx(m): 3:51pm On Jan 17, 2025

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by Novice1(m): 3:54pm On Jan 17, 2025

Madam go find job abeg.

Which one be nidcom?

Colossal waste of government resources

what exactly do you do?

whats the function of Foreign Affairs ministry?

is your position as chairman subject to appointment or election?

Bunch of clowns

mtscheewwww

6 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by Gotocourt: 3:56pm On Jan 17, 2025

Old Format , when Nigerians are disposing fortunes to gettat of this shit hole undecided

3 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by chopnaira: 3:58pm On Jan 17, 2025

Wawu. This is why I am a firm supporter of japa if you can.

1 Like

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by ableguy(m): 4:00pm On Jan 17, 2025

People don run finish for the country, that's another angle of revenue sha.
angry

1 Like

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by wazobeer: 4:03pm On Jan 17, 2025

Nice report. This highlights the positive roles of Nigerian expats and migrants working to earn and remit fx back to the country.

It's not always about 'brain drain'. People must be allowed to explore their options if Nigeria isn't working for them. At the end of the day, it's a win for the economy.

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by Omoawoke(m): 4:10pm On Jan 17, 2025

To every Nigerian away from home country, fighting for survival and making progress legitimately, and yet remembering home and sending support, may you continue to progress and succeed.

6 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by iampeterben(m): 4:10pm On Jan 17, 2025

I guess this is good for the economy.

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by TheWitchKing(m): 4:12pm On Jan 17, 2025

This oloriburuku of a woman thinks it's APC that made it so? With her one sided hate for a tribe. Everyone wants Nigerian people around because they are funny, strong and hardworking. We have bad ones, but every nation does right ? But then the country got good ones too.

1 Like

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by free2ryhme: 4:17pm On Jan 17, 2025*

adamusuleiman1:
https://punchng.com/nigerias-diaspora-remittances-exceed-90bn-in-five-years-nidcom/

Sometimes, we need to face the truth and step away from the facade we often maintain.

Remittances from abroad are helpful, but they can’t be the backbone for development and infrastructure. That money is mostly used by families for daily needs, not for building roads, hospitals, or industries. Real development needs strong investments, industrial growth, and government-driven infrastructure projects. Relying too much on diaspora funds is like patching a leaking bucket instead of fixing it properly. It’s good support, but it’s not a long-term solution for Nigeria’s growth.

2 Likes

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by GetSenseNow: 4:17pm On Jan 17, 2025

That's because there's so much hunger in the land and so people have to depend very much on their family and friends abroad

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by CodeTemplarr: 4:18pm On Jan 17, 2025

Publish according to states and regions so we can see the perpetual parasites.

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by Dalohad: 4:18pm On Jan 17, 2025

If they remained here, you and your co-travellers would have destroyed their future.

They ran away because buffoons rig their way to power.

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by VeeVeeMyLuv(f): 4:20pm On Jan 17, 2025

Too Poor

Under PDP $25b - $30b per annum

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by KhingLufem1(m): 4:20pm On Jan 17, 2025

To every Nigerian away from home country, fighting for survival and making progress legitimately, and yet remembering home and sending support, may you continue to progress and succeed.

1 Like

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by bigdammyj: 4:21pm On Jan 17, 2025

Noted.

Re: Nigeria’s Diaspora Remittances Exceed $90bn In Five Years — Nidcom by givedemwotowoto: 4:22pm On Jan 17, 2025

1 2 Reply

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