Dr. Abike Dabiri-Erewa, the Chief Executive Officer of the Nigerians in Diaspora Commission (NIDCOM), highlighted that diaspora remittances are Nigeria’s largest source of foreign exchange. She made this statement during a lecture at Afe Babalola University in Ado Ekiti on Saturday, as part of the institution’s 12th convocation ceremonies.
Speaking on “Diaspora Engagements for National Development,” Dabiri-Erewa emphasized the crucial role Nigerians abroad play in the country’s economy. She noted that diaspora citizens are actively contributing to various sectors, either as individuals or through group initiatives. According to her, these commercial activities amount to millions of dollars, positively impacting Nigeria’s gross domestic product (GDP) and supporting national development.
The NIDCOM CEO also pointed out that diaspora remittances surpass oil revenues in contributing to Nigeria’s GDP. She referenced data from the Central Bank of Nigeria (CBN), revealing that in July 2024, the country received $553 million in diaspora remittances—the highest ever recorded.
Dabiri-Erewa’s remarks underscore the importance of engaging the Nigerian diaspora community to boost economic growth and development. She praised their efforts in areas such as healthcare, education, and business, and encouraged the government to continue fostering policies that harness the potential of Nigerians abroad.
As Nigeria navigates its economic challenges, the contributions from its diaspora remain a vital source of stability and growth, demonstrating the power of international collaboration and national unity.
