President Bola Tinubu on Friday urged Nigerians living abroad on to convert their remittances and professional expertise into long-term investments in Nigeria, arguing that recent macroeconomic gains make the country a more attractive place to deploy capital.
Speaking at the opening of the three-day Nigeria Diaspora Economic Conference in Toronto, President Tinubu, represented by his Chief of Staff Femi Gbajabiamila, described the gathering as an opportunity for the government to translate the financial and intellectual resources of the diaspora into structured, governable investment vehicles.
“Nigeria sees you. Nigeria values you. Nigeria needs you,” he said to hundreds of attendees.
The President
portrayed members of the diaspora as important economic ambassadors whose international networks and technical skills could accelerate development at home.
He highlighted recent indicators—real gross domestic product growth of 3.89% in the first quarter of 2026, manufacturing expansion of 3.29%, inflation easing to 15.91%, and foreign-exchange reserves of $45.4 billion at the end of 2025—as evidence of a country “in genuine recovery.”
The President also cited an International Monetary Fund projection that Nigeria’s economy will expand by 4.1% this year and said the World Bank had acknowledged improvements in macroeconomic stability.
To channel diaspora resources into productive assets, President Tinubu urged a shift away from “scattered, personality-driven transactions” toward professionally governed investment clubs, sector funds, co-investment vehicles and venture networks.
He called for pooled capital, audited accounts, proper governance and due diligence led by credible advisers.
At the same time, he said the government must reciprocate with predictable rules, transparent project pipelines, efficient consular services and stronger protections against fraud.
As examples of measures easing diaspora participation in Nigeria’s financial system, President Tinubu pointed to the Non-Resident Nigerian Ordinary Account, the Non-Resident Nigerian Investment Account and the Non-Resident Bank Verification Number.
Domestically, the Presudent touted a new tax architecture aimed at simplifying compliance and easing burdens on low-income earners and small businesses, and highlighted that the development finance arm, the Bank of Industry, disbursed a record 636 billion naira in 2025.
He also enumerated infrastructure priorities—roads, rail, ports, power, digital connectivity, healthcare, housing and agricultural value chains—calling them catalysts for sustainable growth.
President Tinubu suggested remittances should be the “floor” of diaspora engagement, not its ceiling, urging return flows of capital as well as the transfer of knowledge and technology.
The President touched on the political implications of diaspora economic power, saying greater financial engagement would strengthen the diaspora’s voice on issues such as overseas voting.
He also appealed for unity ahead of Nigeria’s 2027 general elections, warning that partisan conflict should not imperil national stability.
The conference, themed “Thrive Abroad, Invest in Nigeria,” was convened by the Nigerians in Diaspora Commission, whose chair and CEO, Abike Dabiri-Erewa, was praised by President Tinubu for organizing the first event of its kind.
In her remarks, Dabiri-Erewa said the gathering was a chance to deepen engagement and marshal diaspora expertise for faster economic growth.
Several State Governors, Ministers, and senior officials were among those in attendance.
