… Federal Government Calls for Economic Transformation Through Diaspora Engagement
By Rashidat O. Okunlade, Lagos
The Federal Government has issued a clarion call to Nigerians in the diaspora, urging them to transcend the traditional practice of sending remittances and instead channel their resources, expertise, and global networks into structured investments capable of catalysing Nigeria’s economic transformation.
The appeal came during the maiden Nigeria-Canada Diaspora Economic Conference held in Toronto, a landmark event organised by the Nigerians in Diaspora Commission (NiDCOM) under the theme, “Thrive Abroad, Invest at Home.”
The conference, which drew high-level participation from both sides of the Atlantic, featured a distinguished roster of delegates including Femi Gbajabiamila, Chief of Staff to the President; the Governors of Zamfara and Anambra States; the Minister of Industry, Trade and Investment; members of the National Assembly; Canadian investors; and representatives of the Nigerian community in Canada.
Untapped Economic Resource
Dr. Abike Dabiri-Erewa, Chairman and Chief Executive Officer of NiDCOM, described the Nigerian diaspora as an “untapped economic resource” whose potential remains largely unexplored. In a passionate address, she challenged Nigerians abroad not only to succeed in their host countries but to contribute meaningfully to the development of their homeland.
She issued a direct challenge to members of the diaspora, urging them to invest in at least one project back home, mentor a young Nigerian, partner with a Small and Medium Enterprise (SME), or support critical institutions such as hospitals, schools, and communities.
Dabiri-Erewa emphasised the need for participants to move from discourse to concrete investment action, stressing that Nigeria is open for business and that the time to invest is now.
Economic Reforms Driving Competitiveness
In her address, the Minister of Industry, Trade and Investment, Jumoke Oduwole, delivered what many observers described as a compelling business case for investing in Nigeria. She asserted that the government is not appealing to Nigerians abroad to invest merely out of patriotic sentiment, but because Nigeria presents a strong and increasingly attractive business proposition.
Oduwole outlined the ongoing economic reforms under the Renewed Hope Agenda of President Bola Ahmed Tinubu, which are repositioning the economy from consumption to production, raw-material exports to value addition, and import dependence to stronger domestic production and export competitiveness.
Citing recent economic indicators, the Minister revealed that Nigeria’s real Gross Domestic Product (GDP) grew by 3.89 percent in the first quarter of 2026, while the manufacturing sector recorded a growth of 3.29 percent during the same period. She added that capital importation reached an impressive $10.37 billion, representing an increase of more than 83 percent year-on-year.
The Minister called for long-term investments in manufacturing, agro-processing, technology, logistics, energy, healthcare, infrastructure, and export-oriented businesses. She also extended an invitation to Canadian investors to take advantage of the burgeoning opportunities in Nigeria across these critical sectors.
Governors Make Investment Pitches
Governor Dauda Lawal of Zamfara State delivered a particularly striking address, challenging Nigerians in the diaspora to demonstrate greater willingness to take investment risks. Drawing a comparison with the growing presence of Chinese investors in Nigeria, the Governor underscored the urgency of diaspora engagement.
In a revelation that captured the attention of the audience, Lawal disclosed that he had recently visited lithium-processing factories in China and confirmed that Zamfara State possesses significant deposits of high-grade lithium. He announced that three companies had already expressed interest in investing more than $250 million in the state, with his administration working assiduously to put the necessary frameworks in place to secure these investments.
The Governor further detailed his administration’s commitment to improving the state’s investment environment through infrastructure development, including plans for an international airport, five-star hotels, hospitals, and schools. Lawal, a former banker, assured potential investors of the state government’s commitment to providing the legislative, institutional, and political support required to protect investments.
Legislative Support for Diaspora Engagement
The Chairman of the Senate and House Committees on Diaspora described Nigerians abroad as one of the country’s greatest assets, citing their excellence, resilience, innovation, and hard work.
Citing World Bank data, they noted that remittances to Nigeria stood at $21.9 billion, with Canada ranking fifth globally in total remittances but first in per-person contribution. An estimated 412,000 Nigerians in Canada contribute approximately nine percent of remittances, compared with 324,000 Nigerians in the United Kingdom contributing 12 percent and 565,000 in the United States contributing 14 percent.
The lawmakers reaffirmed the commitment of the National Assembly to developing legislative frameworks that would strengthen diaspora engagement, protect Nigerians abroad, and improve the ease of doing business for diaspora investors.
Looking Ahead
The conference, which continues with further discussions and investment engagements, is expected to feature a goodwill message from President Bola Tinubu, to be delivered by his Chief of Staff, Femi Gbajabiamila.
As the proceedings unfold, the overarching sentiment among participants remains clear: Nigeria’s diaspora represents not merely a source of remittances but a strategic partner in the nation’s quest for sustainable economic development. The challenge now lies in translating this vision into tangible investments that will drive growth, create employment, and transform the Nigerian economy.
Reported by: Rashidat Olushola Okunlade, Lagos
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