Diaspora Remittances Surpass Foreign Aid, Key to Tinubu’s Agenda – Shettima

Vice President Kashim Shettima has said the Renewed Hope Agenda of the President Bola Ahmed Tinubu’s administration is a transformative policy thrust aimed at repositioning Nigeria as a prime global investment destination.

He said with the agenda hinged on the core pillars of democracy, development, demographics and diaspora engagement, the present moment serves as the opportune time to remind both Nigerians and the global community that Nigeria stands ready to embrace the future and conduct business.

Speaking yesterday in Abuja during a high-level dialogue on Delivering the Renewed Hope Agenda on the theme, “Nigeria’s Global Ambitions: From Hope to Reality,” Shettima in a statement by his spokesman, Stanley Nkwocha, outlined the administration’s ambitious roadmap, noting President Tinubu’s commitment to bold reforms and strategic partnerships to revive the nation’s economy and enhance security.

He said, “Our reason for this gathering is less about the certainty of our vision for this nation. This has never been in doubt. We are here because of our place in a world of opportunities—a world that can’t afford to neglect or underestimate our place.

“The Renewed Hope Agenda is not just a policy framework; it is a statement of commitment, a covenant between us and the people.”

The vice president pointed out that at the heart of the administration’s foreign policy approach dubbed the ‘Tinubu Doctrine,’ is a ‘4-D Diplomacy Strategy’ centred on promoting democracy, driving economic development, harnessing Nigeria’s demographic potential, and engaging with the diaspora community.

He lauded the vital role of Nigerians in the diaspora, who contributed over $168 billion in remittances between 2015 and 2022, surpassing Overseas Development Assistance.

“This is further evidenced by the recently announced $10 billion Diaspora Fund—a multi-sectoral investment initiative set to be launched soon and expected to strengthen ties with our diaspora community while boosting forex inflows to support our national development plans,” the vice president said.

Shettima also highlighted President Tinubu’s interventions on the economy, including a ₦75 billion investment initiative to revolutionize the manufacturing sector and the Renewed Hope Infrastructure Development Fund to facilitate effective infrastructure development across key economic sectors.

On security challenges, VP Shettima affirmed the administration’s commitment to guaranteeing the safety of lives and properties through regional and national interventions.