NiDCOM says diaspora could bring $100bn a year, plans Abuja investment summit
- NiDCOM says Nigerians abroad could invest up to $100 billion a year at home if trust and transparency improve.
- The commission announced a two-day diaspora investment summit for November 10 and 11 in Abuja.
- The event will be mostly virtual, with limited in-person attendance at the Shehu Musa Yar'Adua Centre.
Nigeria could pull in as much as $100 billion every year from its citizens living abroad if their money is properly channelled, the Nigerians in Diaspora Commission (NiDCOM) said on Friday.
The commission's chairman and chief executive, Abike Dabiri-Erewa, gave the figure in Abuja while announcing the 9th Nigeria Diaspora Investment Summit (NDIS), which holds on November 10 and 11. She spoke through the commission's acting secretary, Abdulrahman Terab.
Dabiri-Erewa said the diaspora is more than a group of relatives sending money home. In her words, it is "a strategic economic asset" whose savings, skills and business links could help lift key sectors of the economy and support the Federal Government's plan to build a $1 trillion economy.
But she was clear about what stands in the way. Many Nigerians abroad do not trust that their money will be safe at home. She listed weak transparency, poor protection for investors, unreliable information and shaky confidence in institutions as the main barriers.
"Unlocking the full potential of diaspora investment requires more than just showcasing opportunities," she said, pointing to credible institutions, clear rules and reliable information as the missing pieces.
What the summit will cover
This year's theme is "Bridging the Trust Gap: Connecting Diaspora Capital with Credible Home-Based Opportunities." The first day will focus on the capital market, with the Securities and Exchange Commission (SEC), the Nigerian Exchange Group (NGX), the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI) expected to take part.
The second day shifts to infrastructure and regulation. Agencies expected include the Infrastructure Concession Regulatory Commission (ICRC), the Nigerian Sovereign Investment Authority (NSIA), the Corporate Affairs Commission (CAC), the Presidential Enabling Business Environment Council (PEBEC) and the Nigerian Export Promotion Council (NEPC).
Sessions will also touch on registering a business, checking partners before paying them, fraud prevention and consumer protection, according to the commission.
The coordinator of the Nigeria Diaspora Summit Initiative (NDSI), Mobolaji Lewis, said the aim is not just to attract money but to tie it to projects that are properly checked and structured. "Our objective is not simply to attract the diaspora capital, but to ensure that such capital is connected to credible, transparent, and properly structured investment opportunities," he said.
The event will run mostly online through Zoom, with a small in-person audience at the Shehu Musa Yar'Adua Centre in Abuja. NiDCOM said the physical part was cut back because of the coming election campaign season but insisted its push for safe investments has not changed.
The 2026 edition is being positioned as groundwork for the summit's 10th anniversary in 2027. First Bank of Nigeria is among the partners.
What happens next
Nigerians abroad who want to invest can join the sessions online and put questions directly to regulators and project sponsors. Whether the $100 billion target is realistic will depend on whether the trust problems raised at the summit are actually fixed.
