Diaspora Remittances Hit $21.9b In 2022 — Tinubu

The Federal Government said Diaspora home remittances in 2022 stood at US$ 21.9 billion through official channels.

Nigeria’s President, Bola Ahmed Tinubu, said this at the 17th annual National Diaspora Day (NDD), 2023, at the Conference Centre, Presidential Villa, Abuja, on Tuesday.

The theme of the day was: “Consolidating Diaspora Engagement for National Development”.

Tinubu was represented by Hon. Femi Gbajabiamila, his Chief of Staff.

The president said Nigerians were excelling globally and contributing immensely to the country’s development through their resources, talents, skills and global exposure.

“In 2022, our Diaspora home remittances through official channels stood at US$ 21.9 billion, over four times the value of our Foreign Direct Investment (FDI).

“The Nigerians in the Diaspora are also actively investing in healthcare, agriculture, education, information and communication technology, 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.”

He also estimated Nigerians in the Diaspora at over 17 million and reiterated that the government held the Diaspora in high esteem and worked hard to uplift engagements with them.

He said parts of the engagement included the passage of the Nigerians in Diaspora Commission (NiDCOM) (Establishment) Act in 2017, and its take off in 2019, and the approval and adoption of the National Diaspora Policy in 2021.

Tinubu also described the day as special owing to the new initiatives by NiDCOM to celebrate contributions of the Diaspora champions with the introduction of the maiden edition of the National Diaspora Merit Awards.

He said the initiative would serve as a morale booster for the Diaspora community and also encourage Diaspora engagement and participation for national development.

The president also commended the commission for its dynamic engagements with the Diaspora community, especially with laudable programmes for Nigerians in Diaspora to invest at home.

“I believe in the years to come, these programmes will impact tremendously on our economy by catalysing our developmental efforts.

“May I therefore encourage you to key into these programmes for our mutual benefits.

“May I also let you know that this new democratically-elected government is a Diaspora friendly one, which will provide an enabling platform for effective policies for the Diaspora with the view to galvanising support for the new administration and concretising our democracy, setting a good example for other African countries to emulate.”

He assured that the government would address some of the challenges the commission faced to make it more effective with the Diaspora for national development.