Business
Diaspora Remittances Stood At $21.9b In 2022 — Tinubu
Published
2 years agoon
By
Editor
The Federal Government said Diaspora home remittances in 2022 stood at US$ 21.9 billion through official channels.
Nigeria’s President, Bola Ahmed Tinubu, said this at the 17th annual National Diaspora Day (NDD), 2023, at the Conference Centre, Presidential Villa, Abuja, on Tuesday.
The theme of the day was: “Consolidating Diaspora Engagement for National Development”.
Tinubu was represented by Hon. Femi Gbajabiamila, his Chief of Staff.
The president said Nigerians were excelling globally and contributing immensely to the country’s development through their resources, talents, skills and global exposure.
“In 2022, our Diaspora home remittances through official channels stood at US$ 21.9 billion, over four times the value of our Foreign Direct Investment (FDI).
READ ALSO: IMF Retains Nigeria’s Economic Growth Forecast At 3.2%
“The Nigerians in the Diaspora are also actively investing in healthcare, agriculture, education, information and communication technology, housing and real estate, sports, transportation, oil and gas and other sectors.
“This I must say is commendable and in our enlightened self-interest as only Nigerians both at home and abroad can develop Nigeria.”
He also estimated Nigerians in the Diaspora at over 17 million and reiterated that the government held the Diaspora in high esteem and worked hard to uplift engagements with them.
He said parts of the engagement included the passage of the Nigerians in Diaspora Commission (NiDCOM) (Establishment) Act in 2017, and its take off in 2019, and the approval and adoption of the National Diaspora Policy in 2021.
Tinubu also described the day as special owing to the new initiatives by NiDCOM to celebrate contributions of the Diaspora champions with the introduction of the maiden edition of the National Diaspora Merit Awards.
He said the initiative would serve as a morale booster for the Diaspora community and also encourage Diaspora engagement and participation for national development.
READ ALSO: JUST IN: CBN Raises Interest Rate
The president also commended the commission for its dynamic engagements with the Diaspora community, especially with laudable programmes for Nigerians in Diaspora to invest at home.
“I believe in the years to come, these programmes will impact tremendously on our economy by catalysing our developmental efforts.
“May I therefore encourage you to key into these programmes for our mutual benefits.
“May I also let you know that this new democratically-elected government is a Diaspora friendly one, which will provide an enabling platform for effective policies for the Diaspora with the view to galvanising support for the new administration and concretising our democracy, setting a good example for other African countries to emulate.”
He assured that the government would address some of the challenges the commission faced to make it more effective with the Diaspora for national development.
In her welcome address, Mrs Abike Dabiri-Erewa, Chairman, NiDCOM, said the theme of the day was a summary of the entire mandate of NiDCOM.
Dabiri-Erewa said the mandate was to engage and harness the talents, skills, resources and global exposure of Nigerians in the Diaspora for national development.
“Our interactions with the Diaspora community during this year’s National Diaspora Day celebrations therefore are expected to mobilise the Diaspora to key into some of the programmes of the government and to chart improved and better ways on how to achieve the positive results for national development within the “Renewed Hope Agenda” of the government.”
READ ALSO: 2023 Polls: INEC Meets Collation, Retuning Officers For Post-election Review
The chairman urged the federal government for a review of the Act setting up NiDCOM to streamline its activities by setting up a sustaining funding mechanism for the commission’s activities.
She encouraged the government to support and conclude the setting up of the Nigeria Diaspora Investment Fund (NDIF) as an investment window for the Diaspora, and the setting up of a Diaspora Intervention Fund for emergencies involving the Diaspora.
In his opening remarks, Amb. Adamu Lamuwa, Permanent Secretary, Ministry of Foreign Affairs, applauded the Nigerians in the Diaspora for their contributions in Nigeria.
Lamuwa was represented by Amb. Samson Itegboje of the ministry.
The permanent secretary commended NiDCOM for its efforts and promised to work hand-in-hand with the commission for better Diaspora relations.
Highlights of the day included a cultural performance by the National Council for Arts and Culture, a musical interlude performed by Christiana Igbokwe, granddaughter of the late Nigerian musician, Christy Essien-Igbokwe, a saxophone played by OreOfe Sax, among others.
(NAN)
You may like
Tinubu Gives D’Tigress $100,000 Each, Flats, National Honour
BREAKING: Tinubu Appoints New Federal Fire Service Boss
JUST IN: Tinubu Confers National Honours On Super Falcons
ADC Slams Tinubu Over Mounting Debts, Demands Audit
2027 Presidency: Tinubu Can Be Beaten In Next Election – Political Commentator
Court Remands Tiktoker Who Claimed President Tinubu Died

The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.
It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.
This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.
READ ALSO:Fuel Station Manager, Three Others Arrested For Robbery
Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.
This means that the petrol pump price was increased by N65.
This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.
Business
Naira Appreciates Against Dollar As External Reserves Swell
Published
3 days agoon
August 5, 2025By
Editor
The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.
According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.
READ ALSO:Naira Continues To Appreciate Against Dollar On Official Market
This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.
Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.
The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.
Business
Naira Continues To Appreciate Against Dollar On Official Market
Published
6 days agoon
August 1, 2025By
Editor
The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.
Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.
This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.
READ ALSO:Woman Arrested For Killing, Selling Pregnant Nurse’s Body Parts
Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.
Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.
- NCAA Seeks K1 De Ultimate’s Arrest, Petitions AGF, IG
- FG Unveils Four Water Projects In Ogoni, Commits To Implementing UNEP Report
- FG Warns Of Flooding In Lagos, Rivers, Delta, Bayelsa, 26 Others
- INEC Gets 151 Party Registration Requests, Begins Screening
- Aviation Unions Begin Indefinite Strike Monday
- Sterling Bank Unveils First 30 Beneficiaries Of N2bn Scholarship
- Medical Plane Crash Kills Six In Kenya
- FULL LIST: Ballon d’Or Unveils 2025 Women Nominees
- Super Falcons Coach Madugu Nominated For 2025 Ballon d’Or Award
- Ballon d’Or Unveils 2025 Men’s Club, Coach Of The Year Nominees
Trending
- News4 days ago
Seadogs Champions Social Justice Through Inaugural Art Exhibition In Owerri
- Metro3 days ago
VIDEO: Lagos Residents Lament As Flood Overruns Communities
- Metro4 days ago
Hotel Under Construction Collapses In Edo Kills Owner
- Metro2 days ago
CBN, UBA, Others In Benin Given Ultimatum To Remove Their Buildings Or Be Demolished
- News5 days ago
7 Essential Blood Tests Every Adult Should Take Regularly
- News5 days ago
2025 Recruitment: Immigration, Civil Defence, Others Issue Important Notice To Applicants
- Politics3 days ago
Edo: Aggrieved APC Members In Oredo Accuse Party State Secretary Of Marginalisation, Want Okpebholo’s Intervention
- News3 days ago
WAEC Releases 2025 WASSCE Results
- News1 day ago
JUST IN: WAEC Shuts Down Result Portal Over Technical Issues
- Headline3 days ago
UK Opens Application For Chevening Scholarships