Diaspora remittances highest source of FX to Nigeria- Dabiri Erewa

The Chief Executive Officer of the Nigerians in Diaspora Commission (NIDCOM), Dr. Abike Dabiri-Erewa, emphasized that remittances from the diaspora represent the largest source of foreign exchange for Nigeria. She made this statement during a lecture titled “Diaspora Engagements for National Development” at the Afe Babalola University Convocation in Ado Ekiti on Saturday.

Dabiri-Erewa noted that Nigerians living abroad are actively involved in various sectors of the economy, either individually or collectively. She highlighted numerous commercial ventures by these individuals, which contribute significantly to the nation’s GDP and overall development.

According to her, “Diaspora remittances are the most substantial source of foreign exchange for Nigeria, surpassing oil contributions to the Gross Domestic Product.” She referenced data from the Central Bank of Nigeria, indicating that in July 2024, the country received a record $553 million in remittances.

She cautioned against unnecessary migration, often referred to as ‘Japa,’ arguing that leaving the country out of frustration is unwise. Dabiri-Erewa explained that NIDCOM is actively working to improve relationships between the diaspora, those in Nigeria, and the government, addressing the significant trust gap that exists.

She urged Nigerians abroad to collaborate with the commission to support sustainable development efforts, stating, “If we unite with a common goal, we can contribute to Nigeria’s advancement.”

Dabiri-Erewa also advocated for partnerships between Nigerian universities and diaspora communities through staff and student exchange programs. She suggested that these exchanges should focus on second and third-generation Nigerians in the diaspora, as they can offer unique insights to university life.

She proposed that Afe Babalola University (ABUAD) could implement collaborative research initiatives and sabbaticals for diaspora lecturers, enhancing the educational experience for both staff and students. This collaboration would expose them to diverse educational environments and promote knowledge sharing.

Praising ABUAD for its connection with Kings College London, which facilitates interactions with universities worldwide, she encouraged the institution to create a Diaspora Centre of Excellence to offer courses related to diaspora issues and serve as a research hub.

ABUAD’s founder, Afe Babalola, remarked on Nigeria’s abundance of human and natural resources, urging especially the youth to reconsider the desire to seek opportunities abroad. He stated, “In the past 15 years, ABUAD has significantly influenced the nation’s education and healthcare sectors, earning recognition as one of the leading universities both in Nigeria and globally.”

Babalola concluded, “Africans are destined to lead the world. We have established a university ranked among the best globally and a hospital recognized as the best in Africa within just 15 years. My students are the future leaders who will help elevate this country.”