FG Eyes Investment Surge as Diaspora Remittances Reach $20bn Yearly

The Federal Government has intensified efforts to convert more than $20 billion in yearly diaspora remittances into productive investments, as preparations continue for the 2025 Nigerian Diaspora Investment Summit scheduled to hold in Abuja this November.

The initiative, led by the Nigerians in Diaspora Commission in partnership with banks and private sector groups, is aimed at mobilising the wealth, skills and networks of Nigerians living abroad to support national economic growth.

The summit, which will run from November 11 to 13 at the State House Conference Centre, has the theme “Fast Tracking Regional and National Development by Mobilising Diaspora Investment.” It is expected to bring together diaspora investors, business executives and policymakers to explore opportunities in sectors such as energy, real estate, finance, manufacturing and technology.

President Bola Tinubu is expected to attend as Special Guest of Honour, while the Chairman/Chief Executive Officer of NiDCOM, Abike Dabiri-Erewa, will preside over the programme in her capacity as Chief Host.

According to NiDCOM, the summit has evolved as a platform to link diaspora investors with viable business opportunities and strengthen collaboration between the government and Nigerian professionals abroad. “The engagement continues to create sustainable partnerships that drive innovation, job creation and economic transformation,” the commission noted.

Former Minister of Power and Chairman of Geometric Power Limited, Prof. Bartholomew Nnaji, will deliver the keynote address, while the Group Managing Director of the Nigerian Exchange Group, Temi Popoola, will speak on investment frameworks for emerging markets.

Zenith Bank is headlining the event as lead partner, with First Bank, AG Mortgage Bank and Rainbow Heritage Group also supporting.

Zenith Bank’s Group Managing Director, Adaora Umeoji, reaffirmed the bank’s commitment to harnessing diaspora participation in Nigeria’s development, noting that Nigerians abroad remain strategic contributors to national economic stability through remittances and investment inflows.

Similarly, FirstBank CEO, Olusegun Alebiosu, said the bank continues to provide secure channels for diaspora funds, citing partnerships with over 17 international money transfer operators and the First Global Transfer platform.

The organisers said the 2024 edition of the summit generated over N673 million in diaspora-backed investment commitments, with about N500 million channelled into local businesses, service providers, and SMEs.

With more than 17 million Nigerians living abroad remitting funds annually, stakeholders believe that stronger collaboration, structured investment vehicles and policy support could convert remittances from largely household spending into long-term economic assets.