The Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, believes that Nigerians living abroad can play a crucial role in addressing the country’s economic challenges. She emphasized the significant contributions of the diaspora through remittances, investments, and philanthropy.
Speaking on the upcoming 2024 National Diaspora Day during an NTA Good Morning program, Dabiri-Erewa highlighted how countries like India, China, Pakistan, Israel, and Ireland have successfully harnessed the potential of their diasporas to boost their economies.
She cited the 2023 diaspora remittance report, which recorded $20 billion sent back to Nigeria, demonstrating the substantial impact that these funds have on the nation’s economy. She suggested that Nigeria could overcome many of its economic challenges without relying on loans from institutions like the World Bank and the International Monetary Fund (IMF).
Dabiri-Erewa stressed the importance of organizing and mobilizing the estimated 17 million Nigerians living abroad to fully leverage their potential for the country’s benefit.
“We are looking at about 17 million Nigerians abroad. That is the data we are working with. We have a lot more than that,” she noted. “The idea is if we are excelling all over the world, how can we contribute to our country? India cannot talk about development without their diaspora, nor can China, Pakistan, Israel, and Ireland. So we can’t have such an amazing number of Nigerians all over the world and not do something about it.”
She pointed out that beyond the $20 billion in remittances, engaging the diaspora could attract even more investments, funds, and philanthropic efforts. “We go to the World Bank and beg, we get a few million dollars, with conditions. IMF, we beg, we get a few million dollars with conditions. But if we pull our diaspora together, we can get much more in a structured manner, and that is what we are trying to do,” she added.
Dabiri-Erewa also mentioned NiDCOM’s initiatives, including housing programs and mortgages for the diaspora. She revealed that a mortgage program allowing diaspora Nigerians to access up to ₦50 million to own a house will be launched soon.
“We have some programs for them, the diaspora housing, where they can own their homes. Diaspora mortgage will be rolled out very soon, allowing them to get a mortgage of up to ₦50 million,” she explained.
