NiDCC Urges Deeper Diaspora Role in Nigeria’s Economic Strategy

The President of the Nigerians in Diaspora Chamber of Commerce (NiDCC), Ms. Patience Ofure-Key, has called on the Federal Government to place Nigerians in the diaspora at the heart of the country’s investment and development strategy.

In a statement issued on Sunday in Abuja, Ofure-Key, a former presidential aspirant, stressed that Nigerians abroad should no longer be viewed merely as sources of remittances or ceremonial participants in national events. Instead, she said, they must be recognised as key contributors to Nigeria’s long-term economic growth.

According to her, diaspora-linked capital has evolved into a critical economic driver that should be deliberately integrated into infrastructure financing, co-investment platforms, and policy formulation.

Citing World Bank data, Ofure-Key noted that remittances to Nigeria hit a five-year high of $23 billion in 2025, representing nearly 12 per cent of the country’s Gross Domestic Product (GDP). She added that remittance flows to low- and middle-income countries reached $685 billion in 2024, surpassing foreign direct investment and official development assistance combined.

“The World Bank’s Nigeria data page also continues to track the country’s remittance inflows and shows personal remittances received at 8.4 per cent of Gross Domestic Product (GDP) in 2024.

“Diaspora remittances to Nigeria in 2025 reached a five-year high, estimated at $23 billion.

“This strengthens Nigeria’s position as Africa’s largest recipient while the inflows are projected to account for nearly 12 per cent of Nigeria’s GDP in 2025 and are crucial economic drivers, representing a significant portion of Nigeria’s foreign exchange.

“If diaspora-linked capital is already so economically consequential, then Nigeria should be deliberately structuring diaspora participation in infrastructure finance, co-investment vehicles, export platforms, enterprise growth, governance, and policy design,’’ she said.

Ofure-Key further emphasised that Nigeria’s true strength lies in its ability to mobilise its human capital both at home and abroad in pursuit of sustainable development under the “Renewed Hope” agenda.

Referencing President Bola Tinubu’s recent state visit to the United Kingdom, she urged the government to ensure that international trade agreements prioritise local content and technology transfer. While commending the £746 million export-finance deal for the redevelopment of the Lagos Port Complex and Tin Can Island, she cautioned that such agreements must deliver tangible domestic benefits.

“A country that celebrates the size of a package before interrogating its structure risks mistaking dependence for development.

“We must ask what local content is guaranteed and what Nigerian engineering and labor participation is secured,” Ofure-Key said.

On the UK-Nigeria migration partnership, she acknowledged the government’s assurance that returnees would undergo proper verification, but stressed the importance of a comprehensive reintegration strategy to prevent additional pressure on the local economy.

She also called for what she described as “moral seriousness” in governance, urging leaders to actively engage Nigerian professionals both locally and in the diaspora rather than relying predominantly on externally driven solutions.

“The real strength of a nation lies not only in what it can attract from outside, but in what it can organise from within.

“Nigeria is rich in capable stakeholders in infrastructure, finance, security, and governance. Too often, they are left outside the room while national choices are shaped by a narrow circle,” she added.

Ofure-Key concluded that Nigeria must negotiate from a position of strength by leveraging its vast human capital if it hopes to break the cycle of dependency and secure the well-being, dignity, and confidence of its citizens.

End