NiDCOM targets $100bn yearly investment from Nigerians abroad

Nigeria could attract as much as $100bn annually from its citizens living abroad if the country addresses investment barriers and builds confidence in its institutions, the Nigerians in Diaspora Commission has said.

The commission said distrust, inadequate investor protection and limited access to reliable information were preventing Nigerians abroad from committing more funds to productive ventures at home.

NiDCOM Chairman and Chief Executive Officer, Abike Dabiri-Erewa, disclosed this on Friday through its Acting Secretary, Abdulrahman Terab, at a press conference in Abuja ahead of the ninth Nigeria Diaspora Investment Summit.

Dabiri-Erewa said the estimated investment potential could become a major source of funding for the Federal Government's ambition to grow the economy to $1tn.

“The Nigerian Diaspora Investment alone, if harnessed to its full potentials, can measure up to 100 billion Dollars every year as inflow into the Nigerian Economy,” she said.

She argued that Nigeria needed to move beyond relying on remittances from citizens abroad and create conditions that would encourage them to invest directly in businesses, infrastructure and other productive sectors.

According to her, “Unlocking the full potential of diaspora investment requires more than just showcasing opportunities. It demands transparency, robust investor protection, credible institutions, reliable information, and effective regulatory frameworks.”

The ninth edition of the summit, scheduled for November 10 and 11, will focus on connecting diaspora investors with verified investment opportunities and addressing concerns about the safety of their funds.

Themed Bridging the Trust Gap: Connecting Diaspora Capital with Credible Home-Based Opportunities, the event is expected to bring together investors, financial regulators, government agencies, business owners and project developers.

Dabiri-Erewa said the summit would provide prospective investors with direct access to relevant institutions to obtain information about investment procedures, compliance requirements and available safeguards.

She identified capital market opportunities, infrastructure financing and regulatory frameworks as the three major areas of discussion.

The first day will focus on investment opportunities in Nigeria's capital market, including financial instruments, entry procedures, risk management and investor protection.

The Securities and Exchange Commission, Nigerian Exchange Group, Central Bank of Nigeria and Ministry of Finance Incorporated are among the institutions expected to participate.

Discussions on the second day will centre on infrastructure projects, public-private partnerships and regulatory requirements for diaspora investments.

The Infrastructure Concession Regulatory Commission, Nigerian Sovereign Investment Authority and Corporate Affairs Commission are expected to provide information on available opportunities and investment procedures.

The programme will also address business registration, due diligence, anti-fraud measures and consumer protection.

Dabiri-Erewa said the commission wanted the summit to move beyond discussions and give investors opportunities to interact with regulators, project sponsors, mortgage providers and verified service providers.

She disclosed that this year's edition would adopt a hybrid format, allowing Nigerians abroad to participate virtually through Zoom, while physical attendance would be limited to the Shehu Musa Yar'Adua Centre in Abuja.

She attributed the reduced physical component to the forthcoming national election campaign season but maintained that the commission remained committed to promoting credible investment opportunities.

Also speaking, the Coordinator of the Nigeria Diaspora Summit Initiative, Mobolaji Lewis, said the objective was to ensure that diaspora funds were channelled into properly structured investments capable of delivering measurable economic benefits.

“Our objective is not simply to attract the diaspora capital, but to ensure that such capital is connected to credible, transparent, and properly structured investment opportunities,” Lewis said.

He said the initiative had worked with NiDCOM over the years to create platforms for Nigerians abroad to explore investment opportunities and contribute to economic development.

Lewis added that building confidence through reliable information and institutional support was essential to encouraging more diaspora investors.

He expressed optimism that the summit would help translate interest from Nigerians abroad into productive investments and sustainable economic growth.

The summit is organised by NiDCOM in partnership with the Nigeria Diaspora Summit Initiative and other stakeholders, including First Bank of Nigeria Plc.

The commission said the 2026 gathering would also serve as preparation for the 10th anniversary edition scheduled for 2027.