Diaspora
The Nigerian diaspora continues to play a pivotal role in the nation's development, contributing significantly through remittances, investments, and policy engagement.
Economic Impact and Remittances
In 2024, Nigerians abroad sent home approximately $20.93 billion in personal remittances, marking an 8.9% increase from the previous year.
Notably, Edo State emerged as a major contributor, accounting for an estimated 31% of Nigeria's total diaspora remittances, amounting to around $7 billion.
These funds have been instrumental in supporting sectors like healthcare, education, and housing, contributing about 6% to Nigeria's GDP.
Policy Engagement and Government Initiatives
The Nigerian government has intensified efforts to engage its diaspora through policies and initiatives. The National Diaspora Policy provides a framework to facilitate diaspora contributions to national development.
Additionally, the proposed Nigeria Diaspora Bond aims to mobilise savings and investments from Nigerians living abroad to fund national infrastructure and development projects.
Diaspora Contributions to National Development
Beyond financial remittances, the Nigerian diaspora contributes to national development through skills transfer, investments, and cultural exchange.
Initiatives like the Odenigbo Cultural Club, founded by Ichie Kelechi Eke in Dallas, aim to preserve Igbo language and culture among diaspora communities.
Furthermore, President Bola Ahmed Tinubu has emphasised the importance of diaspora engagement, assuring Nigerians abroad of a diaspora-friendly government and encouraging their participation in national rebuilding efforts.
In summary, the Nigerian diaspora remains a vital asset to the country's socio-economic growth, with ongoing efforts to strengthen their engagement and contributions to national development.
