The Nigerians in Diaspora Commission, NiDCOM, has commended Nigerians in the Diaspora for their sustained contributions to the national economy, noting that monthly remittance inflows are now approaching $1 billion.
In a statement issued on Monday in Abuja, the Director of Media, Public Relations and Protocols of the Commission, Abdur-Rahman Balogun, said the development reflects growing confidence in the Federal Government’s economic reforms.
Balogun said beyond remittances, Diaspora investments have also surged in recent years, particularly in healthcare, agriculture, food industry and Information and Communication Technology, ICT.
He noted that these investments have continued to support businesses, create jobs and bring valuable expertise into the country.
According to him, the removal of fuel subsidy and the unification of the foreign exchange market by the administration of President Bola Ahmed Tinubu were tough but necessary steps to correct long-standing economic distortions.
“While the road taken over the last three years has not been easy, Nigeria’s external reserves, now approaching $60 billion, and rising remittance inflows are encouraging developments,” the statement read.
To encourage more investments, Balogun said NiDCOM has sustained its engagement with the Diaspora through platforms such as the annual National Diaspora Day celebration and the Nigeria Diaspora Investment Summit.
He added that the recently held Nigeria Diaspora Economic Conference, NIDEC, in Canada also provided an avenue for Nigerians abroad to explore investment opportunities, build business networks and channel more resources towards Nigeria’s growth.
In her remarks, the Chairman/CEO of NiDCOM, Hon. Abike Dabiri-Erewa, praised Nigerians in the Diaspora for their resilience in supporting their families and investing back home despite global economic challenges.
Dabiri-Erewa urged them to sustain the momentum, stressing that their remittances and investments are keeping businesses afloat, supporting households and creating opportunities for more Nigerians.
She assured that the Commission will continue to collaborate with relevant stakeholders to deepen Diaspora engagement and ease investment processes for Nigerians abroad.
NiDCOM expressed optimism that with sustained reforms and increased private sector participation, more Nigerians in the Diaspora would find viable opportunities to bring their ideas, skills and resources home for national development.
