Abike Dabiri-Erewa, Chairman/CEO of the Nigerians in Diaspora Commission (NIDCOM), emphasized the potential economic impact of diaspora remittances during a lecture at ABUAD’s Ado Ekiti campus. In 2021, these remittances hit $20 billion, overshadowing Nigeria’s $4.8 billion in foreign direct investment (FDI). By 2022, remittances accounted for 6.1% of Nigeria’s GDP, showcasing their growing significance. Dabiri-Erewa urged the establishment of the Nigeria Diaspora Investment Trust Fund (NDITF) to channel these funds into national development. She also proposed partnerships for student exchange programs and a Diaspora Centre of Excellence at universities to foster cultural exchange and research. Despite budget constraints, she called for Nigerians abroad to support national development initiatives. Source.
Question: How can Nigeria maximize diaspora remittances for sustainable growth? Share your thoughts!
