FG, Financial Institutions Move to Channel $20bn Diaspora Remittances Into Investment Projects

The Federal Government has opened a new drive to convert the more than $20 billion sent home annually by Nigerians abroad into structured investments capable of stimulating national development.

The initiative, led by the Nigerians in Diaspora Commission (NiDCOM) in partnership with top banks and private sector players, will be unveiled at the 8th Nigerian Diaspora Investment Summit scheduled for November 11–13, 2025, at the State House in Abuja.

This year’s summit, themed “Fast-Tracking Regional and National Development by Mobilising Diaspora Investment,” aims to channel diaspora capital, skills, and innovation into sectors such as energy, housing, finance, agriculture, and technology. The event will convene policymakers, investors, and business executives in a hybrid format featuring panel discussions, deal rooms, pitches, and exhibitions.

President Bola Tinubu is expected to attend as Special Guest of Honour, while NiDCOM Chair Abike Dabiri-Erewa will host the event. She described the summit as a strategic platform that has evolved from dialogue into a pipeline of real economic partnerships.

The keynote address will be delivered by former Power Minister and Geometric Power Chairman, Professor Bartholomew Nnaji. Nigerian Exchange Group boss Temi Popoola will speak on investment models for emerging markets.

Zenith Bank leads the list of corporate partners, joined by FirstBank, AG Mortgage Bank, and Rainbow Heritage Group. The institutions say they are strengthening services targeted at diaspora investors, including international transfer platforms, mortgage financing, and infrastructure-backed assets.

Figures shared by the organisers show that the 2024 summit generated over ₦673 million in investment commitments, with more than ₦500 million already deployed into small businesses and service providers. Local firms in media, hospitality, logistics, and printing were among the beneficiaries.

With more than 17 million Nigerians living abroad, organisers say the challenge is no longer the volume of remittances but how effectively they can be redirected from household consumption into long-term wealth creation and economic expansion.

The 2025 edition is expected to signpost a shift from remittance dependence to structured diaspora-backed development financing.