
Efforts to position the South-West region of Nigeria as a premier hub for diaspora investments have intensified, with experts and stakeholders emphasizing the need for a more conducive investment environment. At a sensitization and advocacy programme organized by the Nigerians in Diaspora Commission (NiDCOM), industry leaders and government representatives discussed strategies to attract and sustain diaspora investments in the region.
The event, themed “Promoting Diaspora Investment Potential in South-West Nigeria”, brought together key players in the public and private sectors to highlight the untapped opportunities in the region. Dr. Babatunde Adeyemo, the CEO of Pelican Valley Nigeria Limited, noted that the South-West is uniquely positioned for growth in various sectors, including real estate, agriculture, infrastructure, and tourism. He stressed that diaspora Nigerians have a critical role to play in driving investments that could transform the region and the nation at large.
Dr. Adeyemo recalled the comments of former Lagos State Governor Babatunde Fashola (SAN) on the impact of diaspora remittances. During the 2024 festive season, known as “Detty December,” diaspora contributions accounted for 4% of Nigeria’s Gross Domestic Product (GDP). Building on this momentum, he urged stakeholders to tap into the growing demand for luxury accommodations, short-term rentals, and entertainment-driven properties, especially during peak seasons, to diversify investment portfolios and boost returns.

Drawing from his experience working with over 1,000 diaspora investors, Dr. Adeyemo emphasized the significant opportunities available in the South-West. “The region is ripe for investment with its rich cultural heritage, abundant natural resources, and strategic location,” he said. However, he acknowledged that challenges, such as inadequate infrastructure and government support, must be addressed to create a more favorable business climate. He called on the government to provide incentives such as tax breaks, subsidies, and outreach initiatives to encourage diaspora participation in key sectors like real estate and infrastructure development.
In addition, Dr. Adeyemo outlined specific ways diaspora investments could impact the real estate sector, including property development, acquisition, and renovation. He highlighted the need for modern housing units to address Nigeria’s housing deficit while creating jobs and stimulating economic growth. Furthermore, he noted the potential of diaspora partnerships to drive large-scale projects such as shopping malls, office complexes, and residential estates, which would significantly boost urban development in the region.
NiDCOM Chairperson Abike Dabiri-Erewa also addressed participants, reiterating the importance of diaspora investments in national development. She outlined the agency’s initiatives, which include building trust, fostering synergy, and raising awareness about investment opportunities for Nigerians living abroad. Dabiri-Erewa revealed that NiDCOM is working closely with the Bank of Industry (BoI) to help small and medium enterprises (SMEs) access funding for new and existing businesses. She praised the Pelican Valley CEO for successfully transitioning from journalism to real estate, urging participants to learn from his entrepreneurial model.
Joining virtually from the United Kingdom, Bimbo Folayan, Coordinator of NiDCOM’s Direct Investment Summit (NiDDIS), expressed optimism about the potential of diaspora investments to transform the South-West region. He acknowledged that past initiatives in the region yielded limited results due to a lack of government follow-up but expressed confidence that the renewed focus by NiDCOM would change the narrative. Folayan emphasized that Nigerians abroad have access to funds, grants, and business ideas that could be harnessed to bring prosperity to the region.
The sensitization programme underscored the need for collaboration among stakeholders to address existing challenges and leverage the opportunities presented by diaspora contributions. By creating a more supportive environment, the South-West region could emerge as a leading destination for investments, fostering economic growth and development in Nigeria.

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