NIDEC 26: Nigeria Urges Diaspora to Shift from Remittances to Structured Investments
TORONTO — The Federal Government of Nigeria has urged Nigerians living abroad to move beyond sending remittances and channel their financial resources, expertise and global networks into structured investments capable of accelerating Nigeria’s economic transformation.
The call was made at the maiden Nigeria-Canada Diaspora Economic Conference in Toronto, organised by the Nigerians in Diaspora Commission (NiDCOM) under the theme, “Thrive Abroad, Invest at Home.”
The conference brought together the Chief of Staff to the President, Femi Gbajabiamila; Governors Dauda Lawal of Zamfara State and Charles Soludo of Anambra State; Minister of Industry, Trade and Investment, Jumoke Oduwole; members of the National Assembly; Canadian investors and members of the Nigerian community in Canada.
Chairman and Chief Executive Officer of NiDCOM, Abike Dabiri-Erewa, described the Nigerian diaspora as a major but largely untapped economic resource.
She urged Nigerians abroad to complement their achievements in host countries with meaningful contributions to Nigeria’s development, challenging them to invest in at least one project at home, mentor a young Nigerian, partner with an SME or support critical institutions such as hospitals, schools and communities.
Dabiri-Erewa called on participants to move from conversations to concrete investment decisions, stressing that Nigeria remains open for business and that the time to invest is now.
Nigeria offers strong investment proposition — Oduwole
The Minister of Industry, Trade and Investment, Jumoke Oduwole, said the government was not asking Nigerians in the diaspora to invest in Nigeria simply because it is their homeland, but because the country increasingly offers a compelling business proposition.
She said economic reforms under President Bola Ahmed Tinubu’s Renewed Hope Agenda were repositioning Nigeria from consumption to production, raw-material exports to value addition, and import dependence to stronger domestic production and export competitiveness.
Oduwole disclosed that Nigeria’s real Gross Domestic Product grew by 3.89 per cent in the first quarter of 2026, while manufacturing expanded by 3.29 per cent.
She added that capital importation rose to $10.37 billion, representing an increase of more than 83 per cent year-on-year.
According to the minister, the government is seeking long-term investments in manufacturing, agro-processing, technology, logistics, energy, healthcare, infrastructure and export-oriented businesses.
She also invited Canadian investors to explore opportunities in Nigeria, particularly in manufacturing, agro-processing, energy, technology, healthcare, infrastructure, logistics and mineral processing.
As Zamfara woos investors with lithium opportunities, Governor Dauda Lawal of Zamfara State challenged Nigerians in the diaspora to become more willing to take calculated investment risks in Nigeria, citing the growing presence of Chinese investors in the country.
Lawal disclosed that he recently visited lithium-processing factories in China and said Zamfara possesses significant deposits of high-grade lithium.
He said three companies had already expressed interest in investing more than $250 million in the state, adding that his administration was putting the necessary frameworks in place to secure the investments.
The governor also highlighted ongoing investments in infrastructure, including an international airport, five-star hotels, hospitals and schools, aimed at improving the state’s investment environment and boosting investor confidence.
Lawal, a former banker, assured prospective investors that the state government was committed to providing the legislative, institutional and political support required to protect investments.
Lawmakers highlight diaspora economic contribution.
Meanwhile, the Chairmen of the Senate and House of Representatives Committees on Diaspora Affairs described Nigerians abroad as one of the country’s greatest assets, citing their excellence, resilience, innovation and hard work.
Citing World Bank data, they said remittances to Nigeria stood at approximately $21.9 billion, while Canada ranked fifth globally in total remittances but first in per-person contribution.
They further disclosed that an estimated 412,000 Nigerians in Canada contribute about nine per cent of remittances, compared with about 324,000 Nigerians in the United Kingdom contributing 12 per cent, and 565,000 Nigerians in the United States contributing 14 per cent.
The lawmakers reaffirmed the commitment of the National Assembly to strengthening legislative frameworks that would deepen diaspora engagement, protect Nigerians abroad and improve the ease of doing business for diaspora investors.
The conference is expected to feature further investment discussions and business engagements, including a goodwill message from President Bola Ahmed Tinubu to be delivered by his Chief of Staff, Femi Gbajabiamila.
