NiDCOM Highlights $1bn Monthly Diaspora Remittances, Investments
The Nigerians in Diaspora Commission (NiDCOM) has highlighted the importance of remittances and investments from Nigerians living abroad, with monthly inflows approaching $1 billion, following the recent controversy surrounding Peter Obi’s call for diaspora Nigerians to reconsider sending money to relatives at home.
In a statement issued in Abuja on October 20, 2026, the commission praised Nigerians abroad for their continued financial support and investments, describing their contributions as important to household welfare, business growth and national economic development.
Obi, the presidential candidate of the Nigeria Democratic Congress, had urged Nigerians in the diaspora to challenge requests for financial assistance from relatives and encourage them to demand better governance. His remarks sparked criticism from opposition parties, which warned that restricting remittances could worsen the hardship experienced by families who depend on the funds for their daily needs.
NiDCOM emphasised the significant role diaspora remittances play in supporting Nigeria’s economy. The commission also noted that Nigerians abroad are increasingly investing in healthcare, agriculture, food production and information and communication technology, creating jobs and bringing expertise into the country.
The commission acknowledged the difficulties associated with the economic reforms introduced under President Bola Tinubu, particularly the removal of fuel subsidies and the unification of the foreign exchange market. It described the measures as necessary steps towards addressing longstanding economic distortions.
NiDCOM further identified Nigeria’s external reserves, which it said were approaching $60 billion, alongside rising remittance inflows, as encouraging developments amid the country’s economic adjustments.
To attract more diaspora investments, the commission highlighted its engagement initiatives, including the annual National Diaspora Day celebrations, the Nigerian Diaspora Investment Summit and the recently held Nigeria Diaspora Economic Conference in Canada. These platforms provide opportunities for Nigerians abroad to explore business prospects and establish partnerships.
NiDCOM Chairperson and Chief Executive Officer, Abike Dabiri-Erewa, commended Nigerians in the diaspora for continuing to support their families and invest in their homeland despite recent economic challenges. She encouraged them to sustain their contributions, noting that their financial support helps households, keeps businesses running and creates opportunities.
The commission reaffirmed its commitment to working with relevant stakeholders to improve engagement with Nigerians abroad and make investment in Nigeria more accessible. It expressed optimism that sustained reforms and greater private sector participation would attract more diaspora capital, skills and business expertise to the country.
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