Nigeria Woos Diaspora Investors as FG Targets Shift From Remittances to Investment

The Federal Government has launched a fresh drive to attract Nigerians in the diaspora into structured investments, urging them to move beyond remittances and deploy their capital, expertise and international networks to accelerate economic growth at home.

The call featured prominently at the maiden Nigeria-Canada Diaspora Economic Conference in Toronto, organised by the Nigerians in Diaspora Commission (NiDCOM) under the theme, “Thrive Abroad, Invest at Home.

The conference attracted senior government officials, including the Chief of Staff to the President, Femi Gbajabiamila; Governors of Zamfara and Anambra States; Minister of Industry, Trade and Investment, Jumoke Oduwole; members of the National Assembly, Canadian investors and Nigerians resident in Canada.

Diaspora urged to invest, mentor, build

The Chairman and Chief Executive Officer of NiDCOM, Abike Dabiri-Erewa, described Nigerians abroad as a major but underutilised economic resource for the country.

Dabiri-Erewa urged members of the diaspora to complement their achievements abroad with tangible contributions to Nigeria’s development.

She challenged them to invest in at least one project in Nigeria, mentor young Nigerians, partner with small and medium-sized enterprises and support critical institutions such as hospitals, schools and communities.

The NiDCOM boss said the focus should now shift from discussions about investment to actual deals and projects, declaring that Nigeria remained open for business.

FG: Invest because Nigeria is profitable

Oduwole said the government was not asking Nigerians abroad to invest merely because Nigeria was their country of origin, but because the country was becoming a more compelling investment destination.

She said reforms under President Bola Tinubu’s Renewed Hope Agenda were aimed at transforming the economy from consumption to production, raw-material exports to value addition and import dependence to greater domestic production and export competitiveness.

According to her, Nigeria’s real GDP expanded by 3.89 per cent in the first quarter of 2026, while the manufacturing sector grew by 3.29 per cent.

She added that capital importation reached $10.37 billion, representing more than 83 per cent growth year-on-year.

The minister said government was targeting long-term investments in manufacturing, agro-processing, technology, logistics, energy, healthcare, infrastructure and export-oriented businesses.

She similarly invited Canadian investors to explore opportunities in the Nigerian economy, particularly in manufacturing, agro-processing, energy, technology, healthcare, infrastructure, logistics and mineral processing.

Zamfara targets $250m lithium investment

Governor Dauda Lawal of Zamfara State urged Nigerians in the diaspora to take calculated investment risks, pointing to the growing interest of Chinese investors in Nigeria’s mineral sector.

Lawal said a recent visit to lithium-processing factories in China exposed the scale of opportunities available in the sector.

He disclosed that Zamfara State had significant deposits of high-grade lithium and that three companies had expressed interest in investing more than $250 million in the state.

The governor said his administration was developing the necessary frameworks to secure the investments and provide an enabling environment for businesses.

He added that the state was investing in infrastructure, including an international airport, five-star hotels, hospitals and schools, to improve its investment climate.

Lawal, a former banker, assured investors that the state government would provide the legislative, institutional and political backing required to protect investments.

Lawmakers pledge stronger diaspora laws

Chairmen of the Senate and House Committees on Diaspora Affairs described Nigerians abroad as among the nation’s greatest assets, citing their resilience, innovation, expertise and achievements globally.

Citing World Bank data, they said Nigerians abroad contributed significantly to the economy through remittances, with inflows into Nigeria estimated at $21.9 billion.

They said about 412,000 Nigerians in Canada contribute an estimated nine per cent of remittances, compared with 324,000 Nigerians in the United Kingdom contributing 12 per cent and 565,000 Nigerians in the United States contributing 14 per cent.

The lawmakers pledged that the National Assembly would continue to develop legislation and policies aimed at strengthening diaspora engagement, protecting Nigerians abroad and making it easier for diaspora investors to do business in Nigeria.

The conference is expected to feature further investment discussions and business engagements, including a goodwill message from President Bola Tinubu to be delivered by his Chief of Staff, Femi Gbajabiamila.

The initiative is aimed at turning Nigeria’s diaspora population from a largely remittance-focused community into a more active source of capital, expertise, entrepreneurship and long-term investment for national development.