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By Fatima Saka
The Federal Government of Nigeria has begun a fresh moved to convert Nigeria’s huge diaspora remittance flows into long-term investments capable of creating jobs, expanding businesses and accelerating economic development.
The initiative took centre stage at the maiden Nigeria-Canada Diaspora Economic Conference in Toronto, where government officials and lawmakers urged Nigerians living abroad to channel more of their financial resources, expertise and international networks into productive ventures at home.
The conference, organised by the Nigerians in Diaspora Commission (NiDCOM) under the theme, “Thrive Abroad, Invest at Home,” brought together Nigerian government officials, Canadian investors and members of the Nigerian community.
NiDCOM Chairman and Chief Executive Officer, Abike Dabiri-Erewa, described the diaspora as one of Nigeria’s most significant untapped economic resources.
She urged Nigerians abroad to move beyond sending money home and become active participants in Nigeria’s development by investing in businesses and infrastructure, mentoring young Nigerians, supporting SMEs and strengthening institutions.
Dabiri-Erewa challenged every participant to identify at least one project to support in Nigeria, insisting that the time had come to turn diaspora conversations into tangible investments.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, said the Federal Government was positioning Nigeria as an investment destination based on economic opportunity rather than sentiment.
She said reforms under President Bola Ahmed Tinubu’s Renewed Hope Agenda were aimed at shifting the economy from consumption to production, raw-material exports to value addition and import dependence to stronger domestic manufacturing and export competitiveness.
Oduwole disclosed that Nigeria’s real GDP grew by 3.89 per cent in the first quarter of 2026, while manufacturing recorded 3.29 per cent growth. Capital importation, she added, reached $10.37 billion, representing an increase of more than 83 per cent year-on-year.
She identified manufacturing, agro-processing, technology, logistics, energy, healthcare, infrastructure and export-oriented businesses as priority areas for long-term investment.
Governor Dauda Lawal of Zamfara State, meanwhile, urged Nigerians in the diaspora to take greater investment risks in Nigeria, pointing to the growing involvement of foreign investors in emerging sectors.
Lawal disclosed that three companies had expressed interest in investing more than $250 million in Zamfara’s lithium sector following his recent visit to lithium-processing facilities in China.
He said the state government was strengthening its infrastructure and institutional framework to attract and protect investors.
The Senate and House Committees on Diaspora Affairs also highlighted the enormous financial contribution of Nigerians abroad, citing World Bank figures which put remittances to Nigeria at $21.9 billion.
They noted that Nigerians in Canada, the United Kingdom and the United States make substantial contributions to the country’s remittance inflows, while stressing the need to create stronger channels for diaspora capital to enter productive sectors.
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The lawmakers pledged to support legislation that would deepen diaspora engagement, protect Nigerians abroad and improve the ease of doing business for Nigerians seeking to invest from overseas.
With the conference bringing together policymakers, diaspora professionals and investors, the Federal Government is seeking to reposition Nigerians abroad not merely as sources of foreign exchange, but as strategic partners in Nigeria’s investment, industrialisation and job-creation agenda.
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