By Milcah Tanimu
Abike Dabiri-Erewa, Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), has asserted that Nigerians living abroad have the potential to significantly address the country’s economic challenges. During an interview on NTA’s Good Morning programme, she highlighted that the diaspora’s contributions through remittances, investments, and philanthropy are crucial for Nigeria’s economic stability.
Dabiri-Erewa emphasized that the diaspora has already played a vital role in the Nigerian economy. She pointed to the 2023 diaspora remittance report, which recorded $20 billion in inflows, suggesting that Nigeria could address many of its economic issues without relying on loans from the World Bank or the International Monetary Fund (IMF).
Drawing comparisons with other countries, Dabiri-Erewa noted that nations like India, China, Pakistan, Israel, and Ireland have experienced economic growth largely due to their diaspora communities. She believes Nigeria can achieve similar results by effectively harnessing the potential of its 17 million diasporans.
“We are looking at about 17 million Nigerians abroad,” Dabiri-Erewa said. “That is the data we are working with, and we probably have more than that. If other countries have leveraged their diasporas for development, Nigeria should not be left behind.”
She explained that beyond remittances, there is significant potential for investments and philanthropic contributions from the diaspora. NiDCOM is working to structure these resources more effectively, aiming to reduce dependence on international loans.
Dabiri-Erewa also announced upcoming initiatives, including diaspora housing programs and mortgages. These will allow Nigerians abroad to access up to ₦50 million to purchase homes in Nigeria. “We have some programmes for them, including the diaspora housing and mortgage initiatives. These will enable them to own homes and access up to ₦50 million in mortgages,” she said.
Overall, Dabiri-Erewa’s vision is to fully leverage the diaspora’s contributions to support Nigeria’s economic development, reducing reliance on external financial assistance.