The Nigerians in Diaspora Commission (NiDCOM) said Oct. 20 that monthly remittances are nearing $1 billion and called for more investment by Nigerians abroad to support households and businesses.
In a Sept. 1, 2025, statement, NiDCOM cited Central Bank of Nigeria figures showing remittances of $600 million a month over the preceding two months. The agency credited a more competitive exchange rate and relayed Central Bank of Nigeria Governor Olayemi Cardoso’s explanation that improved transfer channels had encouraged people to send money through formal routes.
In a February 2026 speech, Cardoso put average monthly remittances at about $600 million and described $1 billion as a future milestone.
NiDCOM said Nigerians abroad are investing in health care, agriculture, food processing and information and communication technology. It said the investments benefit Nigerian firms through employment and the transfer of expertise.
NiDCOM Chairperson and Chief Executive Officer Abike Dabiri-Erewa said remittances help families meet their needs. She urged Nigerians abroad to keep investing despite the country’s recent economic difficulties.
NiDCOM said it hoped continued reforms and greater participation by businesses would encourage Nigerians abroad to contribute more capital and expertise.
The commission attributed the rising inflows to confidence in President Bola Tinubu’s reforms. NiDCOM defended his administration’s fuel and currency changes as difficult measures intended to correct economic distortions. Those changes included ending the petrol subsidy and unifying the foreign exchange market.
NiDCOM cited National Diaspora Day, the Nigerian Diaspora Investment Summit and a recent Nigeria Diaspora Economic Conference in Canada as ways it connects Nigerians abroad with investment opportunities. The agency said it would work with other groups to simplify investment for them.
