Follow Us on Google
From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has urged Nigerians living abroad to move beyond sending remittances to their families and take equity in Nigeria’s economic future by investing directly in productive sectors of the economy.
Tinubu made the call on Friday while declaring open the three-day Nigeria Diaspora Economic Conference (NIDEC) 2026 at the Apollo Convention Centre, Toronto, Canada, with the theme, “Thrive Abroad, Invest in Nigeria.”
The President, who was represented by his Chief of Staff, Femi Gbajabiamila, said Nigerians in the diaspora had demonstrated that they could compete successfully on the global stage and should now deploy their capital, expertise and networks to accelerate development at home.
“Nigeria sees you. Nigeria values you. Nigeria needs you,” Tinubu told hundreds of Nigerians and other stakeholders gathered at the conference.
He said remittances had played an invaluable role in sustaining millions of Nigerian households by supporting education, healthcare and small businesses, but stressed that they should constitute only the beginning of diaspora engagement with the Nigerian economy.
“Remittances, though invaluable in sustaining millions of Nigerian households through school fees, medical bills and small businesses, must now become the floor of diaspora engagement rather than its ceiling,” he said.
Tinubu challenged Nigerians abroad to channel investments into agro-processing, healthcare, technology, energy, housing, logistics, mining, education, creative industries and export manufacturing.
He also urged them to move away from scattered and personality-driven investments towards professionally managed investment clubs, sector funds, co-investment vehicles and venture networks.
“Pool your capital, demand audited accounts, insist on proper governance and conduct due diligence with credible professional advisers,” the President urged.
Making a case for increased diaspora investment, Tinubu said Nigeria’s economic indicators pointed to a country undergoing genuine recovery, despite the challenges that had confronted the economy.
He cited real Gross Domestic Product growth of 3.89 per cent in the first quarter of 2026, manufacturing expansion of 3.29 per cent, a decline in inflation to 15.91 per cent, and foreign reserves of $45.4 billion at the end of 2025.
He further noted that the International Monetary Fund had projected Nigeria’s economy to grow by 4.1 per cent in 2026, while the World Bank had acknowledged progress in restoring macroeconomic stability, strengthening the country’s external and fiscal position and sustaining economic growth.
Tinubu attributed the improvement to reforms undertaken by his administration over the past three years, saying the measures had strengthened Nigeria’s resilience and improved its macroeconomic outlook.
He also highlighted the Federal Government’s new tax architecture, which he said was designed to simplify compliance and reduce the burden on low-income earners and small businesses.
The President disclosed that the Bank of Industry recorded its highest annual financing volume in 2025, disbursing N636 billion to businesses across the country.
He added that the government was continuing investments in roads, railways, ports, power, digital connectivity, healthcare, housing and agricultural value chains.
While urging Nigerians abroad to invest, Tinubu acknowledged the frustrations and risks that often discourage diaspora participation in the Nigerian economy.
He said the government owed diaspora investors “predictable rules, transparent project pipelines, efficient consular services and stronger protection from fraud.”
The President pointed to the Non-Resident Nigerian Ordinary Account, Non-Resident Nigerian Investment Account and Non-Resident Bank Verification Number as measures designed to make it easier for Nigerians abroad to participate in the domestic financial system.
He also acknowledged the frustrations many Nigerians face abroad, describing an “invisible ceiling” that could limit how far Nigerians rise in foreign systems regardless of their talent.
Tinubu, however, insisted that Nigeria offered vast opportunities for those willing to invest at home.
He said, “There is no such ceiling for those who choose to invest at home. Here, the sky is the limit.”
The President urged Nigerians in the diaspora to see Nigeria not merely as a place to send money to but as a market in which they could build sustainable businesses and long-term wealth.
He also appealed to Nigerians to preserve national unity as the country approaches the 2027 general elections.
Tinubu acknowledged that political competition was an essential feature of democracy but warned that partisan interests should not be allowed to undermine Nigeria’s stability.
He said the economic power of Nigerians in the diaspora could also give them greater influence in national conversations, including issues such as diaspora voting.
The President commended the Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, and her team for convening what he described as the first-ever Nigeria Diaspora Economic Conference.
Earlier, Dabiri-Erewa said NIDEC 2026 was designed to deepen engagement with Nigerians abroad and harness their expertise, capital and global networks for national development.
She urged Nigerians in the diaspora to regard Nigeria not only as home but also as an investment destination.
In his remarks, Anambra State Governor, Charles Soludo, commended the economic reforms of the Tinubu administration, describing them as measures capable of positioning Nigeria to attract investment and compete for global capital.
Zamfara State Governor, Dauda Lawal, said the conference provided an opportunity for his administration to position the state to take advantage of emerging investment opportunities and attract direct investment.
The Minister of Industry, Trade and Investment, Olajumoke Oduwole, also called for a shift from discussions to actual investments, declaring that “the best time for investment is now.”
The conference, organised by NiDCOM in collaboration with national and international stakeholders, brought together investors, business leaders, government officials and Nigerians in the diaspora to explore opportunities for strengthening economic ties and increasing investment flows into Nigeria.
The event featured panel discussions, pitching sessions and a fireside chat with the Minister of Interior, Olubunmi Tunji-Ojo, alongside presentations by the Minister of Foreign Affairs, Sola Enikanolaiye; Executive Chairman of the Nigeria Revenue Service, Zacch Adedeji; Chief Executive Officer of the Nigerian Investment Promotion Commission, Aisha Rimi; Director-General of the Nigerian Export Promotion Council, Nonye Ayeni; Director-General of the Small and Medium Enterprises Development Agency of Nigeria, Charles Odii; and Director-General of the National Orientation Agency, Lanre Issa Onilu.
The Canadian delegation was led by the Ontario Minister of Citizenship and Multiculturalism, Graham McGregor.
The conference is expected to deepen conversations on diaspora capital, expand investment opportunities and build stronger economic partnerships between Nigerians abroad and the Nigerian economy.
