The Nigerians in Diaspora Commission (NiDCOM) has praised citizens living abroad for their massive contributions to the nation’s economy, revealing that monthly remittance inflows are now approaching $1billion.
According to the commission, the steady increase in cash transfers reflects foreign-based Nigerians’ strong commitment to home development and growing confidence in ongoing economic reforms.
Naija News reports that in a statement signed on Tuesday (today) by the Director of Media, Public Relations, and Protocols at NiDCOM, Abdur-Rahman Balogun, the agency also praised diaspora citizens for pouring capital into various sectors across the country over the past few years.
The commission acknowledged that key government policies under President Bola Tinubu, such as the removal of petrol subsidy and the unification of the foreign exchange market, were tough choices. It, however, maintained that those steps were necessary to fix long-standing economic problems.
NiDCOM observed that although the past three years have been challenging for many citizens, positive signs are emerging, with foreign reserves now approaching $60bn alongside rising diaspora inflows.
Beyond sending money home to relatives, the agency noted that Nigerians abroad are actively investing in critical sectors including healthcare, agriculture, food production, and technology.
It added that such investments are helping local businesses survive, creating jobs for young people, and bringing valuable technical skills into the domestic market.
To sustain the momentum, NiDCOM promised to continue creating platforms for engagement, pointing to annual events such as the National Diaspora Day and the Nigerian Diaspora Investment Summit.
It also highlighted the recent Nigeria Diaspora Economic Conference held in Canada, where participants discussed strategies to channel more private capital back to Nigeria.
The Chairperson and Chief Executive Officer of NiDCOM, Abike Dabiri-Erewa, commended citizens abroad for standing by their families and supporting the nation despite global economic pressure.
She urged them not to relent, noting that their funds and business ventures remain vital in keeping households afloat and opening new economic doors for many Nigerians.
The commission assured that it would keep working with relevant government agencies and private partners to eliminate bottlenecks and make investing in Nigeria seamless for citizens living outside the country.
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