By Alexis Uchendu
The Nigerians in Diaspora Commission (NiDCOM), has revealed that remittances from Nigerians abroad have surpassed $90 billion in the last five years, highlighting their crucial role in the country’s economic growth.
NiDCOM Chairman, Abike Dabiri-Erewa, disclosed this during the commission’s 2025 budget defence before the National Assembly Joint Committee on Diaspora.
She noted that in December 2024 alone, remittances reached ₦60 billion, with expectations for further growth.
“The diaspora is a powerful resource we cannot ignore. They are Nigeria’s top ambassadors, and their contributions continue to shape our economy,” she said.
Dabiri-Erewa also cited a Central Bank of Nigeria (CBN), report showing that remittances via International Money Transfer Operators hit $4.22 billion between January and October 2024, nearly doubling the $2.62 billion recorded in the same period of 2023.
On diaspora voting, Senator Victor Umeh, Chairman of the Senate Committee on Diaspora, advocated postponement until Nigeria’s electoral systems become more structured, stressing the need for reliable data on Nigerians abroad.
NiDCOM commended CBN Governor Olayemi Cardoso for launching financial products like the Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account, aimed at strengthening diaspora engagement.
Dabiri-Erewa called for continued collaboration to fully harness the diaspora’s potential for national development.
